2021-04-06-accounts

Charlty ROg￿tratIon No. 218931 Reglst•r•d Soclal Houslng Provbdor No. A0611 THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2021

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM CONTENTS Pag? Govemor3' report Refernr￿ and 8dmirw$trnive detai Objectr4e8 and putjk GO¥em￿￿e and {￿LtsI￿n Prfnclpd actNIty Achievemonts future ￿arrI FlnarKlal reviow Slatem•nt of Governm. IBif*jiB￿xlli1 Indepwdonl 8udrtof8 rep 19-21 Statement of financial actfvltle8 Balanca 8ho01 23 Statement of rA8h firm8 24 Note8 to the ststèmènt of ca8hllow8 25 Nths to financi￿ stater￿ts 28.40

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT FOR THE YEAR EAIDED 6 APRIL 2021 The Governors present their rep￿ and aw?unts for the year ended 6 April 2021. The accounts have been prepared in a¢cordanGe with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing instruments. the Charities Act 2011 and °Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicab￿ lo charib'es preparing their accounts in accordance with the Financial Reporting Standard aPpI￿able in the UK and Republic of Ireland {FRS 102) leffectwe 1 January 2019).. R•fèronce and idminhtr•tfve detall• Working ti￿0 Sl John & St Ame Charity nurnb 218931 R•gl8tered So(a81 HO￿Ing Pmider No. A1%11 Principal addre8 MHI Hou Street O•kham Rutland LE158HY Govemlng A￿trum￿ts Royal Charler datfyj 3 Mgy 1597 a8 amended 2 July 1976 Supplemental Chartw d8tod 21 January 1998 a8 amend•d 27 Fetsuary 2C(13 ar￿ 9 February 2011 Prfn¢lp•l •dvl*orn Audllorn Stethn%)n Smart & Co 36 Tynd811 Court Comrne￿ Road LynthK Petsrbowh PE26LR Bonkern B8rcloy$ 88rl¢ p 10 High sI￿t Oakhgm LE158AN and Petert￿m￿ Bullthw Society Pet•through BU￿￿888 Park Lynch PeterbDwugh PE2 6WZ Investm•nt Manwrn Smith & wlliam￿n Imieslrn•rt Marwme 3rd Flour 9 Colmore BlrniwJham B3 2&J

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT FOR THE YEAR ENDED 6 APRIL 2021 Prin¢lpal*dvworJ (Mntlnuool) Famland 8d¥180rs Shoukn & Son County Chambe Klngs Road Mdlon LE13 iaF Mwray Market Stro•t Oakham LE156DY Gov•rnorn alrman Mr D Patttn8on -Offici The Bishop of Petert)orough The Dean of Pelerborough Thè Patron, Ms C Johnson Thè Rector of Luffenham The R￿lOr of Uppingham The Vicar of Oakham House (to 24.2.21) on beha Dr J Seden on behalf of the Bishop of Peterborough Mrs J Mayhew on behall of Re¢lor of Luffenham (wef 24.2.21) Rev D Smth-Wlld8 on behalf of Rector of Uppingham {vMI 24.2.21) House, Pfoperty House House san nance Mr R Smith Mr D Path'nson Mr V Harvey Propety (Chl, FlnarKe & GP Finance & GP Finance & GP. Propety Mrs E Woodhoad Mrs A Vvhittington Mrs H Bush Mrs S Spilner MrJ Omie Mrs F Craven Mrs E Jupp House (Ch) House House House Finan￿ & GP (Ch}, Propety House, Propety Finance & GP (wef 1.8.20) (to 31.7.20> Posltlon Cle Property Services Manager Administrative Assi¥tsnl Finance Officer Residents, Support Worker Nam• Mr P Martin Mr D Meclelland Mrs K Ayres Mr5 G Matthew Mrs V Porter

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE YEAR ENDED 6 APRIL 2021 OBJECTIVES Based on the tem￿ of the original iicerKe for the foundation of the Hospital dated 21 May 1399 and th8 Royal Charter granted by Queen Elizabeth l in 1597 land amended in 19761 the Charity's purpose is to provide accommodation for almspeople who Shail be poor persons resi(fent al the of apF￿ntment in the District of Rut18nd or elsewhere in England. The Governors review annLMIty the strategic eknents vthich they consider appropfiate for pursuing the above charitable purpose., during tha year under review they re￿C¥)nfi￿T￿d a stral&Jy $ummarised as fdlows." 1) We are a Ruland charity. 21 Our alm (8 to provide good quality and welkmaintaned accommodation, and an environment sultable for reJred peopl8 who cannot afftrd their (Min home. to lead independent lives for as long as p05slble. 3) Vle value communlty and continuity for our residents and ftjr ourse￿8$. 41 W• work with others who share our objectlves. 51 ￿ Iwk to the lonterm health of Ihe Charity. 6) Our prlority theme for 2021 is t¢ continue to improvo the Suita￿[ty of our propertK*s. PUBLIC BENEFIT Thg Govemofs have due reg8rd to the Charlty Cornmi88ion'$ guKlarKe on public b8nefft. They beI￿ve that the Charlty provides a Put￿1¢ benefit by the provision wlthin the County of accommodalH)n for older people of limited mean5, which enables them to be able to live independenuy. STRUCTUR4 GOVERNANCE AND MANAGEMEpir The H¢YJpltal of Sl John the Evangelt¥t and of St Anne in Okeham is a body corporate (ty vlrtuo of the 1597 Royal Charter) wlth a Goveming Body and stsff. The Goveming Body is made up of 15 members- the Patron {b￿ng a descendant of Archdeacon Johnson, the pebtioner for the 1597 Royal Charter).. 5 eX-offic￿ Govemors (b￿￿9 persons holding specthc Off￿eS in the Diocese ol Peterborough and in certain Ruuand parishes)., 3 Govemors appointed by the Pelerborough Diocesan Board of FinarKe', and 8 cTropled Govemors. In 2011 provision was made by Supplement81 Charter for any ex-offi¢lo Governors who 80 wsh to appoint, $ubje¢l to Governing Body agreement, an appropriate person to repreS￿t him or her at meetiThJs of the Govern￿9 Body" ￿jTre￿tty 3 exryoffiGio Governors arg represented by such an apFKJinlment. The Goveming Body meets 4 times a year. in additK)n, there are 3 committees (House, Property, and Fin8nce & General Purposes). Also, frcmn tr"me-t(>time ad hoc worknng groups are fomied to addres5 specific lopics. The Governing Body is conscious of the need to maintain. as far as possibb, a Thtrix ofskllls and life experience combined with conts'nuity of appointrnent. To this end Govemors approve from time-ti>time arrangements for persons who S￿ willing to become full governors when a vacancy arises to attend and partiGipate on a non- voting basis as 'governors-in-waiting'. This is an imFQrtanl aspect of the induction process and ensures an understsnding of the Charrty is awuired before becomirKJ a fvll governor. The Charity's inducb'on procedures ensure that prospective govemors are rrode aware of the responsibilrties of being a govemor. For recruibng prospective governors the Charity makes use of Govemors. kncrwledge of the kncal community, supplemented by wider publicity-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE YEAR ENDED 6 APRIL 2021 THE CL AND The Clerk is the Chief Executive Off￿r ofthe Charity. In addit#?n, there are four ¢)Iher staff member8 employed to undertak8 finance, property, and support fvnctions. There is al60 a Housekeeper, employed on a part time basis, to ensure all communal areas are clean and tidy. The Govemors approve remuneration levels desKJned to enab￿ the Charity to ￿¢ruit and retain the skilled staff needed to manage. support. and deliver its aims. The Charity has a policy of paying al least the Real Living Wage. Remuneration is adjusted annually in line ￿ RPI. RCED RVICE The Chanty has oul8ourced certain sepiices, as folky￿,. Property and Estates Manageffnt- NottirKdham ComfNnity HouJlng A850ciation. Investrnent Management- Smith & Wlliam80n Investrnent Managèm8n( Payroll S8Nices - Stephenson Smart & Co. PRINCIPAL ACTIVITY- BENEFICIARIES & OCCUPANCY The Charity provides almshouse accwmodation and ground8 at two sites in Oakhom (South Street and St Anne's Closel and one in Uppingham. 118eek6 lo maintain the accommodation and It8 grounds In a good stste of repair. 11 provides housing support servires to residenls, as described below. EN A5 at the end of the financial year there were 118 beneftiartes (42 male, 74 femal&) occupying the 102 propertie8. Currentty the youngest ben8ficl8ry is 61 years ol age, whilst the eldest18 97 years of age. The age di8tribulion at 88ch Site 18 shown in th? graph below. Average Age of Beneficiaries by Site: 2021 StAr,nE¥ a05e SLxf.h 5tre. 78 Bl 82 The Current average age of all beneffcraries combined is 80.1 years, this is a decrease on the figure for last year181.11.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT FOR THE YEAR ENDED 6 APRIL 2021 PRINCIPAL ACTIVITY- BENEFICJARIES & OCCUPANCY (continuod) Comparing the available evidence fDr previous years, the upward trend al Upplngham continues, with the aver4e age ¥lttlng ck)se to 82 years. This. perhaps surpfisingty, is desyte 41 % of its beneficiaries b9ing m818. South Street continues to follow a long4emi downwaftl trerKI havlng rewrded its luwest average age sinc& Such records were maintained: Average A8e Of Beneficiaries ' Annual Trends by Site 79 '78 74 73 2013 2014 2015 J117 2019 XJ S%Ath Strett •Sta)ne¥ a￿e L'pgiryfj•ty. entm nt duri During the year 2 beneficiari88 moved on to accommodatfon e18ewhere. This being less than the 5 such moves seen in exh of the previous 3 years. Of these.. 1 required nursing or residential care13 In 2019r20), 1 moved abroad to be doser to thelr famity. Durlng tl*year 10 benefidarfes passed away, rrM)rethan the 5 reccKded in 2019r20, but not Significantly different lo the 9 that were recorded in each of the pwious years. It is believed thal 3 of these 10 residents died with a dlagnosis of Covid-19, but as exh death I￿lOWed an extended perK)d in hospital itls likely that this vlrus was acquired after admission. 12 new residerrts12019r20- 14) were appornled to 9 properb'e$12019r20- 12) as qualiw benèficiaries. Of those.. 6 propgrties were alk)cated to appltants pre¥KJusty living wrthin the county of Rutland 1 property was allocaled lo an applicant who was rekKafing from eksewhere in Ihe UK so as to be INing closer to a family member. whilst 2 propth wwe althated to individuals nKNing from out of the county for other reason5.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT FOR THE YEAR ENDED 6 APRIL 2021 PRINCIPAL ACTMTY- BENEFICIARIES & OCCUPANCY (¢ontlnu•d) The reasons for any benefi¢iary seeking accornmodation can be and varied, but the primary ￿agonS gfven in each of the 9 cases can b8 broken d(Ywn as folkyws: Primary Rea50n For Seeking Accommodation Sc%i& 15dff.lon R15k of l+omelesMe55 To bE neartoknl 25 &5 8Re duri ear During the year a total of 23 applications were received and processed {30 In 19120). These appli¢8n18 range from the oldo8t at 90 years to the youngest at 33 years of oge. The subject of the applicallons can be fvrther brDken d(Ywn as follm.. Single female8 Single males Couples Of the 23 applScants. 7 were rejected as failing to meet bas￿ elvjibility crlteria. lage. wealh, etG) 5 wthdrew their 8ppIic8tion before any offor ofacc0mrrK￿at1on was made. As ststsd above. the Charity was able to satisfy 9 applications during the past year. with there being 1 applicant Still to be processed at the year end, and 2 applicants waiting to be offered accommodation {i￿luding 1 carried forward from 2019120). The Charlty was also able to accept and meet the transfer r4uest from 2 existing bengficiaries. The Charity re-assesses the needs of all outstsnding appI￿ationS as and when any vacancy arises" the fact of being on the waiting list does not in itself amount to a promise of a future appointment

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE YEAR ENDED 6 APRIL 2021 PRINCIPAL ACTMTY- BENEFICIARIES & OCCUPANCY (contInu￿} PAN The average occupancy rale across all propertie8 has been irnpacted by the Covid-19 crisis experienced acr088 11 parts of our Communty. National k¢kdowns. reduced access to proFerty services, and increased applicant ev81uation periods are all likety lo have contributed towards extended tumaround times for the voids that were expenenc8d. Similarty. the continued desire thal the Charity use any available void period to undertake any significant work necessary Improve the quality of the properties, a polw introduced in 2017. ha8 remained the operational approach despite the problems listed above. On8 other issue has al80 inffuenced v(Jid time6, with valk￿8 properties at Bonner House b8ing required to rnm8ln empty ts a number of months whilst steps were taken to replace th¢ entrance into the bullding. The void level target, as $l*ed in the 2020121 operational objective8 land thus that used a8 the basis of the 2020r21 budget) was 95%. The actual oc¢upancy rate ft>r the 2020r21 financkql year, at 95.53% exceeded IhI8 tsrgel,. olven the CovKI-19 challenges. the achieved oc¢upancy 5tsnds up well again81 the rates recorded for thg prevM)us three years196.4%, 95.4%, 95% respectively). The average re-181 time for 8 vacant property across the full year vms 38.5 day812019120 65 days), with the number of rfrlets 88 a percentsge of stock being 15.88 %. PRINCIPAL ACTIVITY- ALMSHOUSE PROPERTIES Durfng the year the portfollo consi81•d of 102 almshouse Pro￿ 4 folhyw8: South Street 41 propertigs Vllliam Dalby House David Royce House Brooke Road 11 fkts 23 flats 7 buryalows Sl Anne'8 Clo80 28 properties Uppingham 33 propertie Bonner House Taylor House Johnson Road 12tsts 12 fiats 9 bungaknvs In addrtion to the almshouse accomrnodation, the Charity al80 maintains a heritsge asseL a 141hcenlury Cha￿1 at St Anne's Close. Since the end of the year an additional proFerty has been added at Mfilliam Dalby House by rewmodelling the former office accommodats'on.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT FOR THE YEAR ENDED 6 APRIL 2021 ACHIEVEMENTS & FUTURE PLANS The past year has been nolable for the challenge¥ that have been pffjsgnted by the CovhY-19 pandemic. The Chanty is proud that throughout the entire tsvelvè•month an adminislratNe and support function continued to be delNered out of its Mill House office tocation. In achieving this. Covid-19 Compliant controls were maintsined acr088 all 6ite5. and both the Charity and its beneficiaries feel fortunate that we did not experl&nce the type of ¢Jisruption or infection rate witnessed dsewhere across the country. On balance, the year in queslion can ba conshywod to have been a 8Lttessfvl one, the Charity well placed to be able to face the challenging economic environ1￿nt that is likety lo confront both the Charty and the wider communty durin9 the coming year And beyond. evelo During the year. Following the adoption of an improved property refurtxshments specification in 2017, progress toward8 meeting these higher gspir8tions has continued throughout the year, 88 and when opportunity h88 preJented itself, and given the reslricled access to conlraclors materials drrriculties p05ed by multlple periods ol nation81 lockdown. Gonerally. the required work is disruptive, of the type thal is not pracUc81 whllsl the pffjperty Is occuplod, and undoubtedty extends tho length of til￿ a vacant propety needs lo be classified as a void. Progress 81n¢e the CommenCe￿nI of the programme is as fdlows, with the total number of complelKJns to the improved 8peeiffcalK)n as at the end of exh financial year being.. 2020r21 2019120 2018119 2017118 18 refuthshrnents completed 12 refurbishments completed 8 refvrbishments L¥Jmpleted 4 refurbishments complet As Such the 2020r21 tsrget of4 units was achieved, despite the extremety dIfficU￿ environment that existed for much of the year. The conJnualion of a programme to install level access sh(Mers inlo all properties continues, as vgrAncie5 pemil. Currently 781102 have been compleled1761102- 2019r201. As such the tar9et of 2 that was Klentiffed at the slart of the year wa¥ achieved. The continuation of a programme of installing combith"ler5 into proterties. in order lo better manage water safety {Legionellosi$ RiskAssessment report 20161- It shoukl be notsd that this appn)ach is not appropriate for Taylor House (Uppinghaml or Vhlliarn Dalby House ICdkhaml as they a￿ both supplied by communal toilers, and as such, the woject will be completed cm achieving 79 installations. The told number of installaiJns so far completed al the end of the financial year is.. 2020r21 30179 properties installed with a combi-system 2019120 27n9 properties Installed with a ¢ombi4yslem 2018119 20179 properb'es installed wilh a ¢ombi-SyStem 2017118 07n9 properties installed with a combi-system

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE YEAR ENDED 6 APRIL 2021 ACHIEVEMENTS & FUTURE PLANS (¢ontlnuod) Thus. the number ol installations Ihis year were $lighUy bek3w the original tsrgel, due to the Covid-19 situation. It is expected th8t the shortfall will be remedied durlng 2021r22. The programme of fvlly replacing the ilooring Within all upper flats at St Anne's Close, a problem flrst accurately diagnosed in the last quinquennial inspection, Gontinued with a further 2 properties belng completed. Currenlty 5 out of 14 properties have so far received such attents"on. A lender process for the developrnenl of a new wopgty on ￿ site of what was the old SJSA office wa8 Completed, wlth work eventually commencing in eaty 2021. The planned appraisal ofwindow frames. as Outlined last year, was cOmp￿ted as part ola wider2020 Stock Condltion Survey undertaken by NCW whlch covered all 102 propert￿. Completlon of the programme of in8talling AOVS (Automatic Opening Vonts), as per the 2019 Flre Sahty audlt l.e. above the 8tairwells at both Wlliam Oalby Hou88 and Bonner Hou¥e. Completion of an internd redeCorat￿n of Royce House. The partial ¢ompletfon of a project to repLac8 and upgrade lighting in tho communal argaB at St Anno'$ Close. Followlng a ¥pate of dhtract1￿ burglary attgThyts, CCTVctr4erap wa8 Introduced at the Brooke Road 61t8. The ground8 at St Anne's Close were rMK)delled 80 as to bth improve privacy and enhance the visual appeal of tho site. That so much did get completed was itsem an gchlovement gNen the Covid-19 challeng69, but somg projects were unftKtunatety deferred. These included. A significant amount of planned intemal redee￿￿tIon The upgrading of lighting al St Anne's Close Flre Safety improvements., Comp8rtrrentalwtK>n wovk at Dw4hJ Royce House & Bonner House. Planned for 2020r21'. Continue to apply the accornn￿da11on stsndards idenllfied in the 2016117 Funrtional Suitability Study into refurbishrnent work as pmperb'es become vacant (target 4 per annum). Continue to implement the policy around accessibilty stsndards i le¥d xces5 showers, as vacancl8s permit (targel 2 per annum). To complete the development ofan additiDnaf 2-bedroom wopety at ￿lliaM Dalby House. Complete the outstanding work5 on upgrading the IvJhting al StAnne's Close. carried forwar(l from 2020121. Complete all works identified as being necessary in the 2019 Fire Risk Assessments I Compartm8ntalisation Surve), which has been delayed by the disruption caused by Covid-19.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE YEAR ENDED 6 APRIL 2021 ACHIEVEMENTS & FUTURE PLANS Iconunued) Conllnue to replace th8 flooring at St Anne's Close as woperties becorr vacant (target 2 per annum). Continue with the programrne of internal redecoration. focusing on St Anne'8 Close {Common Rcoml and Wlliam Dalby House. Repl.ac• I rebulld tha entrance area at Bonner H￿&8. Complete an opb'ons appraisal. for ffeling the chalknges a88oclated with the 2025 digit81 $witchwover, lo ènable a decislon on the route to long4emi Serélce provi8W. Undertake a feasibility 81udy on the installab'on of solar energy within SJSA propertles. a6 part of 8 wider review ol tho PO88ibillty of moving iuw8rds the ratr(kfftting of 'green l environmentally friend Improvements. The condltlon of all prop￿￿e8 falling vacant wll contlnue to be addressed before re•￿ttIng. Mainlena tale A complete Propety Maintenance arKI Estates Management Service is currenty provijed under contrad by Nottingham Community Housing Association (NCHAI. The effectivenes8 of this approach in th& delivery of responsive, valug for mney, service for the beneficiaries. 18 reviewecl annualty by the Govemor8. The Key Perlomiance Indicators for 2020121 sh¢M that total number of NCHA admlnlstered lobs was 630, a 3% incr8a8e on the previou6 year. The table below provides details of the type and value of the Jobs undertsken, as well as the performance 9ainst the agreed response time standards. The Charity has in recent years expressed concem that the percentage ofjobs belng ¢ompleled within the agreed timescales has been on the decline, and so it 18 pleased to See a positsve improvement being rewrted. p¥￿'¢u￿9￿ given thè potentlal for dlsruption that has been brought by the Covid-19 pandemie. aasslffiL*I Emergen Relet Urgent Routine Plannedworks Se￿lan& Ta 24hoyr5 No oflob5 Totsl value %Delfvered on fime % DelivEred pnfime % OeliveredMTirne E41491 7days 95% LWd¥ Appt 45 L382 75% NIA Totals 10-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE YEAR ENDED 6 APRIL 2021 ACHIEVEMENTS & FUTURE PLANS l¢ontlnued> The appointrnenl by SJSA ofa Propety Ser4Ktt Manager in earty 2019 has enabled the Charity to have greater InVo￿ement in the management of resident expectations in respect of the repairs service, and lo maintsin a closer overview of the services that are being delivered. A 8HJnifi¢ant sampte of responsive repair jobs were IndivKlualty follow8d up {72%1, which recorded a 91% satisfK)n rate from the beneficiary receiving the sefvl¢e. A180, and fortho first tiTh, the Charity ha5 been able to measure re8F•xsrwe repairjobs which for a vadety of reasons were not proceswl through NCM. Non-NCHA managed Respon8Ne Repairs: % Completed on timè: 100%: The Resldenls Satisfaction Survey ¢onducied ￿ March 2021 provides posslbty the cleare8t evidence of irnprovement within the delfvery of a responsNe ￿paIrS servu. The recorded s8tlsfaction level al 94% compares well against the 79% recorded in the Prev￿U$ suNgy of 2019. ort In addition to Ihg provision of housing and propety maintena￿, the Charity hold$ th8 bellef that In delNéring Its Strategic objective no 2. to enable beneficiaries to lead "independent lives fDr as long 8s possible" il is importsnl Ihal consideration be given lo meeting thelr varlous and indNidual support needs. In response to national and local changes to both the fvnding and delNery of health and soclal seNices, the Charty has in recent years continued to consider it appropriate that it should increase its own effort8 to deliver effeclve housing-relaled 5UPPOrt. ¢)4er the past tWe￿e months. with all beneficiaries either 'shielding', 'social di8tancing". or'ln lockdown. thi8 haj proven lo be the correct approach. The Charty Is proud that il delivered support 8eTrica that remalned accessible for uryent and emeryency 5ituats.ons throughout the year, and ono where a daity presence at the Mill H(yJsg oflke was maintained throughout At the current time SJSA 8UPPOrt servtss are prlmartly through: 1. Tele-support All prope￿.e8 are cov8re¢ ty a Communty Lrfeline 5ervlce ddivered by Harborough Borough Coun¢ll (Harborough Lifeline), and wh￿h Is fully funded by SJSA, regardless of the financial situation of the individual benefici8ry. During the year Harborough Lifeline handled a tolal of 5763 SJSA generated calls (5672 in 20191201, which including 142 service reque8ts from indivKlual residents. This traffic included 14 health I fall type emergency Galls (42 in 2a19r201. By far the greatest number of calls are generated by the door enty monitoring system. The response times for all calls are monitued and reported on annualty, and can be measured against the Quality StarKlards FrarneW￿k requirements. as wblished ty TSA {previousty Telecare SeNices Association) 95.38% answered within 60 seconds (97.27% - 2019r20) 99.10% answered within 180 seconds199.74% - 2019120)

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT {CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 ACHIEVEMENTS & FIJTURE PLANS (continuod> The ￿ight decline in average response tirr can in part be attributed to work being undertaken by HartK)rough Lifeline, necAssary to upgrade their equipment. and is also a con5equ8nce of their staffing hallenges during the Covid-19 panJem￿. Overall, these reported response times give assurance that our b8n8ficianes re¢￿ve an effective and effKient seNice from Hartw)rough Lifeline. In addthon to th8 reactive type telfrsupport prnwslon detailed above. each beneficiary is also offered the option lo use a pro-act￿8 senlke provKled by Abrtac811, GomnK)nty known wlthin SJSA as the Okay- each-d&y service. During 2020121 the average number of benefKiaries who took up this seNice was 851102 12019120 - 861. During the year there were 86 occasions when the seNice contacted a named responder due to an indiv￿ual not logging in. In addrtion, there were 13 occasions when thls service initiated a repair request on behalf of a re$￿ent The Alfrrtacall Serrfice abo enables inlormation rrtssages to be delNered telephonicalty lo groups of beneficlaries. Thi8 has proven to be particularty valuable during Covid-19 lu￿k down periods. In tolal 40 rflerent messages have been delivered, including 9 that w&re ¢￿$81fIed as urgent l emergency {8.g. advising that 8 dislrnction burghry had been reported in the imffthkgte area>. The Resident SuNey conducted in March 2021 would suggest that both 8eThlces are well regarded by those who use them, with 100% of residents appreciating the LrfeSine setvic81100% - 2019), and 91% the Aertacall Service {87% - 20191. 2. Per80nal suppwt The Charty is consclous ol the role that effKtive housing related SUpp￿t has in enabling beneMarie8 to Gonts'nue to live independent lives. As such SJSA empby$ a full Wme Support Worker in order lo better rrnet the needs of the resk*nt group. though accessible by all. Iraditlonalty Support ￿)rker resourc8 ha$ been focussed on the frailest 20% of our population. In this there was a significant change witP.•55ed durfng 2020r21 as SJSA responded to the increased demands generated by the Covid-19 pandemic. More contscls were made to signfficantty mre benefKSaries, som? reqLiiring the adoptSon of new approaches, as the Charity attempted to offer adequate support to all. Thi5 did include deploylng othèr staff to the task. inc4udlng involveThnt of a gfOUP of Govenwa who were willing and able to volunteer their time. Aside from the support provided during the Covid-19 outbreak the woth ofthe Support Worker has over the past month5 successfully delivered 25 benefits reviews (25 in 2019120), 15 Blue Badge appllcallons117 in 2019r201, 12 OT referraLs112 in 2019r201. 13 Social SeNices referrals. The SJSA support 8ep4ice wa5 8uccessfvl In assisting 10 drfferent beneficiaries to daim a total of £92,500 in rthv 'benefil income. during the year. Kffiilst this did not match the £220,000 obtained for 25 beneficiaries in 2019f20, it conts'nues to derrnnstrate the positive outcome achi&¥able from active hjusing support. 12-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 ACHIEVEMENTS & FUTURE PLANS (ContInu￿) m8nt.. The Charfty remains firm In tts desire io consider the wishes and opinions of Its beneficiaries. parti¢ula)1y in those decislons that directly impact on their day-ttrday living. However, due to the various CovKI-19 related restriLons contsct and consultation with beneficiaries proven to be challenging, with most of the usual methods not available al dl durin9 the past year. Some limited succ￿ has been ach￿ed through.. The increased publication of the Jigsaw, the re$￿ents. newsletter, that is nomialty publlshed quarterly. but saw thi8 doubled to 8 issues dunng 2020r21. In June 2020 the Charity, lor the first produced a delailed annual r8POrt specificalty intended to inform its beneficiaries. FollthMng positive feedback it li anticipated that this exerclse wtll be repealed in future years. In March 2021 the Charity o)mmis$ioned an independentty conducled Resid8nl Satisfactlon Survey. Once the findings are published. trie detail wtthin the 8urvey will bè compared to that urKlertaken In 2019 and will be used lo gulde the future devebpffnt of seNices in the coming years. All beneficiaries conts'nue to be contscted at least annualty by a Governof, who will then follow up with a personal visit when required. Due to the particukgrdifficulties of the p8s112 [T￿nthS Govemor8 have made a con8¢ious effort to conta¢1 each benef￿lary al l&asl tsve, and in most Gases three time8 durfng the year. ni The Charty is also conscious of the need to raise awareness within the wder community, and to contribute lo the wellbeing of the community boyond the imW￿late bgneficiary group. During the past tsvefve wKJnlh8 this ha¥ been achleved by.. The Charity is a member of The Amshouse AsS￿latIon The Charity is a150 a member of SPBM (Smaller Housing ProvKlers Benchmarking Group) As part of its desire"tO T&ise awargn988 within Ihe wder communty, and to support other organi8alions that share our oty'ectivej. the Charlty has made ils resourGes available lo a range of exterpal organisalions. Vthilst these groups have themselves generalty been una>le to meet due lo th8 Covid-19 pandemic, SJSA has continues to work with: Age UK (Carers Support Group, Vetgr3n8 group, Mostty Men Clubl, Oakham Walklng Group. Co) Ladies Group, Uppingharn Local History Society, The Trefoil Guitd, and Ihe Baplrst Church Sunday School. The Charrty continues to work cooperativety with Rutiand County Council in order lo ensure that our partr￿hip arrangements work effectpiely. 13-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 VALUE OR MONE 202￿21 The fomal of this years statement rellects the publtsknon in April 2018 of the Reguklor of SocSal Housing's Valu8 for Money Standanl lor R8gi8t8red Provide Motrlc8 •peclflod by the regul•tor Outcom• 2020121 1.50 Out¢om• 2019120 4.7% MetrK 1.. Reinvesttrtht % Mthc 2a'.New Suppty ISo¢iai Housiry Units) % NIL NIL Metric 2b.'New Supply (Non-soclal Housing Unli8) NIL NIL Metrfc 3.. Gearlng % 12.19%> {1.09%1 Metric 4.. EBITDA (Ma￿r Repair3 Included) Interest Cov8r % 1.456% 1,302% Metrlc 5: Headllne Soclal Housing Cosl per Unil £8,902 £7,297 Meldc eJA.'Operaltng Margin (swal housing lettings only) % 13.7%) {12.6%) Metrfc8B.' Operating Margin {overalll % 8.9% 6.1% Metrfc 7.. Return on Capltal Employéd % o.e% 0.4% In the 8pring of 2020 the Charity Joined SPBM. wlth the intentlon of utilising its benchmarking ¢apabillbes to provlde meaningful comparators in future years. H¢Mever, at the currnnt tirre comparison can only ba mad with the VFM figure8 8tated in the Annual Report of the yeviou5 year. Detailed throughout this report are number of performance metrics that are currentty of relevanGe to this Charity, and which combined help demonstrate the valu8 being achieved year-on-year by Sl John & St Anne. FINANCIAL REVIEW In the year to 8 Aprll 2021 the Charity's finances benefited from a Posttfve outcome on net incoming resources. of some £70,00012020'. £39.0001 and from a gain on investrrnl valuations ol some £1,010,000 (2020.. Ioss £444.0001. As a r85uIL balance sheet total funds have increased to some £11.5 million12020.' £10.5 million), within which cash and cashquNalents comprise some £0.9 Milli•￿12020.' £0.8 million). Investments 8rKI investrnent perfomance are dea￿ with in mre detsil below. Much of the Charity's expenditure on opeRt￿nal propth is now accounted for as addltions to fixed assets. These amounted to a litde over £121,000 in the year12020'. £360,000). These costs and plans for future years are significanlty affected by the Govemor5' strategic derysion not simpIy to replace operational property assets on a lik&for-like basis as and when they reach the end of their economically useful lives, but to focus on any available improvemBnts better 5Uited to the Charrty's obiectr¥e of providing accommodation suitable for residents to live independenlty for as long as F4)Ssi￿9. The Govemors, approach to financing these costs and plans is dealt with fvrther below in the paragraphs on Reserves and ReseNes Policy. 14-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 FINANCIAL REVIEW (contInu￿) Inv••tm•nts and Investment porlomianco The Charity holds investments on account of Pemanent EndowmgnL Restricted and DeS￿nated Funds, the Investments being spread over farmland, listed investrnents and cash. The investment managemènt objectives are that. the Charity should, over the long lemi, receive regular investment income sufficient lo ensure that it can Gonlinue its chantsble aclwities at ￿ast at their present level and with fvll attention to the need for maintenance and repair of operats'onal propert￿8. the Chanty should rnaintain sufficient liquidity in its imiestrnenl arKI cash assets to be confident at any one time of meeb'ng its cash flow needs for the subsequent year, whllsl pursuing these in¢offE and liquidty objectives, management of the Charity's investments should, 80 far as p0581ble, maintain or enhance the value of the Ch8rty'$ pem)anent endowmenl and other Investments. In PLir8uing the above objectives, the Charfty maintains a dlrect Investment in farmland.. malntaln8 assets In depo8lt-based and equity-based Investrnents (managed by CCLA) in respect of Restrlcted and Designated Reserves.. and has arranged ft>r the perrnanent endowment listed investrrnt portfolio to be managed on discrelionary basis by Smith & Williamson Inve8tment Managef8, Within e framework of ethical invostm8nl crllen8 (adopted from those wblished for the Church of England) and a williNJnes8 lo be exposed to a medium level of market d8k. In relation to the Investment income objectNe and the portlolK) managed by Smith & Wlllamson, the Govemor5 88t a tsrget of £100.000 before fees for investment Income in the year. InLY)rne received of £105,44612020: £123.4511 exceeded this target. Together with famik8n4 and other investment income, total Investment income was £115,019 {2020: £136,018) before investment manageffnt costs of £23,081 {2020.' £21,944). In relallon lo the Ilquidity objedive the￿ was no call during th8 yoar lo sell or re-allo￿te invesknents In order to make an extra contrlbutlon to IKiuidity needs. As lo the objective ￿lab"n9 to capital values. al 6 April 2021 the balance sheet total for investments was £5.994.43412020: £4,972,075). The large majodty of this value is in ass8ts which are independently valued at Ihe year end,. for one category of investment- the famil8nd- the Govemor5' practice is to oblain a professional valuation every three years., such a valualkffi was obtainod in 2019 arnl the Governors consider that It remains appropriate. Re8•rves and Rw¢rvo• Polky At the year end the total fvnds held by ￿ Charty were so￿ £11.56 million. made up of.. £ million 10.36 0.38 0.42 Endowment fvridj Restricted funds Unresthcled designated funds un￿tricted general lunds 15-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 FINANCIAL REVIEW (contlnuod Reservts •nd Re8orvo• Policy {contlnu•dl The Endowment funds are the pgmanent capital of the Charity. On the asset side of the balance sheet, they are represented by.. OFerational properties hèkl ft>r the long tern,. Investments, the incorng from which Is avallabl8 to $ubsvJise Opera￿n9 costs, but the ￿pItal value of vthich 18 not expendable except with the consent of the Charity CommissKJn. The Reslricied lunds aro al80 not available for expenditure. FLYM￿ty tlw repre8ent a Recoupment Fund sel up in trwo stage8, firstly when the Charity expended capital lthvards the cost of the South Street, Oakham, Ilats In 1976, and secondly when capital was exFended on the fir51 development al Uppingham in 1980. In both cases, the Charity was required by the Charity Commission to set aside an annual sum of £602 over slxty yea lo recoup this capital. Wnen that temi expires. ￿ ￿pital olthe recoupmnt fund wlll be added to the PeryYrdn8nt Endowment investments. By contra8( Unre8ldcted fvnds are available for expendlture * Govemors. di8cretlon in pursutt of the Chartty's purposes. Wrthln this category the￿ are sub¢ategories - one where the Govemors have 'designaled' or earmarked fund8 for one or more porti¢ular futuffj purposes. arKI General funds whkh have not bgen so ear- marked. Al the year end the Designatsd lunds of £419,676 comprised an Extraordlnary Repairs Rasanie of £358,080 and a Cyclical Maintenance ReseNe of E61.596. The Extraordinary Repairs Re¥erve18 used to enable major IKoperty expenditure to be planned over a S-year Ilme8cale, having regard to any r￿ed for lunding abave the level ol cashfiow generated by almshouse operations and investment incorre. Based on this approach a transfer of £10.251 has been made in these accounts from the Extraordinory Repairs Rejerve to the General Reserve (2020 £181,655), leaving a balance of £358.08012020 £368,331) whKh sutllcas, but is nol ex¢e88ive. havlng regard lo currenl p18ns for the next 5 year5. A second designated reserve (for Cyclical Mainlenancel 18 maintained to lund lesser, periodic, pianned repair8 and ￿laIntenance and is fvnded by an annual Iran8fer from the Inc¢yre of the Charity. Expendlture in the year of £96.519 {2020 - £84,396) was less than the annual transfer of £102,286 {2020 - £99.0121 and the balance tr￿refOre increased to £61,5￿ {2020 - £55.8291. 16-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 FINANc￿L REVIEW Icontlnuod) R•s•rve• and Reserv•s Pollcy lcontlnued) The General un￿StriCted funds represent th& accumulated balance to dale of the income of the Charity after meeting 811 almshouse, managernenl and other running costs and transfers to the Cyclul Maintenance and Extraordinary Repair reserves. In ￿mmOn with othercharities. the Charlty needs lo maintain a balance on such Goneral R8serve8 in order to ensure that, in the event of any abrupt or unforeseen wor8ening in the Charity. operating finances, the Charity can continue Its a¢tNik8 lor a sufficient Fertod of tim8 to be able to recover an￿Or firKI a new basis ol financing its activities. The relevant annual cost for the Charlty is now running al a level of approximately £0.6 million p.a. (total resources expended excluding depreciation which is not a 'cash CO8YI,' Ihe Unreslricled General Reserve at 6 April 2021 (£398,170) therefore suffices for 3om8 8 months, operating '￿Sh costs,. The GovemoTr ¢on8ider that thls is appropriate in current ¢ircuft*tance8 {see further below in ￿lat￿)n to Covid-19). The Covid-19 pandemic pre8ents the Charity with both direct 8nd Indirect risks.. ts Govemors are taking as much care as p088ible lo mlnimise Ihe impact of these risks on the Charty's beneficiaries and in th8 Charity, finances. To date the efforts Involved have been successful and Govemors are grateful to th8 Clerk and other stsff and to the residents for what they have done and Con￿nUe to do. The Govemor8 consider that the policy de8¢rlbed above in respect of the financial General R9serve 16 adequate to the r18ks as ¢urrently assessed. A8 to other ri8ks, the Govemors 8s8e88 from tlme to time Ihe rnaJ￿ ri$k8 to whKh the Chadty is exposed and are satisfled that systems are in place to mitigate expJsure to these. T￿￿$8 risks relate to.. providing and maintsinlng a safe and 8ecure envlronment for our residents and for other& who work at or vistt the Charity's premises", providing and maintsining govemance, flnancial and admlnl6tratNe arrangements to safeguard th Charty'8 assets. lo promote its long-lern health and to facilitate its op8rats.onal activities. The Charity's maln stratègy to add￿$5 these risks Is lil lo revlthv from tlme to tim8 the particular areas where such rfsks may be either most likèly to arise or where their impact would be most serious and to devise and Implemenl particular mitigation plan8 as appropiiale in the light of such review., and (ill at all times and on a continuous bas18 to keep under revivw, and to report to GoverMr8. ary work necessary to ensure that the Charlty's properties provide a safv and secure environment. In addltion Governors are con8CiOUS that the scale and 8rn￿th running of Charity's op8ration8 depends lo a conslderable extent upon g0vernll￿nt8l regirnes. $y$tems and serviG88. Some a$pe¢ts of the fvture of these are suble¢t lo significant uncertainty. Govemors seek lo mininuse the risks to the Charity from such uncertainty by keeping abreast of relevant developrronts {in particukr through The Almshouse Associalionl and by regular review, partkularfy at the time of annual budgetirKJ. 17-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 Stat•mont of Gov•mors' rn•pon•lbilitiES The Govemors are responsible for preparing the Governors. Repnrt and the accounts In accordance with applicable law and United Kingdom Accounts'ng Standards (United Krngdom Generally Accepted Accounting Practice). The IWN applicable to charities In England and Wales requ1￿$ the Govemors to prepare accounts for each financial year which give a true and fair view of the stste of affair5 of the Charity and of the incoming resources and appllcatlon of resources of the Charity for that year. In preparfng these accounts, the Governors are required to.. 88lect suitabfe acuunting poll￿ and appty them consistgnty: ob8erve the methods and principles in the Charitios SORP.. make ludgements and estlmates that are rea8onablè and prudent, State wheth8r applicable accountlng stsndards have been fc4h)wed, subje¢t to ary materfal dep8rtureB dlsclosed and explalned in the accounts,. arKI prepare the accounts on Ihe going concern ba816 unless it 1$ Inappropriale to presume that the Charity will continue in *Jperatlon. The Govemors are responsible for keeping 8uffi¢ienl xcounling records that dlsclose with reasonable accuracy at any time the financial posltion of thg Charity and enable thern to ensure that the accounts comply with the Charities Act 2011, the Charity Ikcounts and Reports) Regulations 2008 and the provisions of the goveming nslruments. They 8r8 also respjnsible for saleguarding the assets of the Chadty and hen¢e for tsking rea$onable Steps fDr the preventson and detects'on of fraud and other irregularitios. The Gavemorn. report was approved by ￿ Goveming Boay ¢)n 9 Juty 2021. D Patb'nson Governor jO￿e Governor 18-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM We have audited the financial 3t8tsments ofThe HOS￿￿1 of St John the EvarwJoli$t 8nd of St Anne in Okehom f￿ the year ended 6 Apdl 2021. which cwprise the Statement of f￿￿1￿181￿Cli¥rt￿, bolanco sialem8nt.of c8$h fknws and not68 to the financial statements. including a Bummary ol Signth￿nI ￿COunting pJllde8. Th8 ffinancial ￿pOr￿n9 framtwoth that ha8 been 8pplied ￿ their prop•r8llon its applicable law ar￿ Uniled Ki￿d0M Aecovnting Standards. induding Fina￿181 ReportirKd Standard 102 The Finanwl Rep>bng StandAnl 8pptic81￿ lo the UK arKY Republ￿ ollreland {Unll&d Kingdom Generalty Accepted A￿l￿tIng Practi(¥). In our 0￿￿10ft the accounts.. glve a true ar¥J lair vlow of the #tate of th& Chortys a8 418 W 2021 and of its rBsoufca9 an 8ppli¢8tion of resour¢es, ft>r thB year then 8nd•d,' h8ve been properfy prepar•J' In aixordanee wlth the Urthd KlwdLYn G•narnlly kcepted Acujunung Pra¢tlc•; ar hav? been prepamd In aeArdance wlth the wuirnnKnts ofthe ChAntl•s Act 2011. BA•1• for oplnlon We Gonducted our audit in ac¢ordanco ￿th Inlernalhjnal St)dardB on AuthliTrJ (UK) {ISkn IUKII and gpplic8bl• law. Our re8ponsSbSlltK8 under IhoA• 81ondard6 are further d•xTibed in the Audrtorfs r￿pOnSibl11118S for Ihe audit of th• financaal 8tatement8 Section of our rnport. Wt 8re ind•pendMI of the Charity in aLwd8n¢e whh the ethical roqu1￿￿ents that are relevant lo our audit of the fingncial •tatement8 in th• UK. iKludirvJ tha FRC'S EtPuc•l Stsndard, and wa havo ftsffilled our other ¥thical respon8ibilit￿ In aco)rdance t￿th th98e wulr•mtnts. Ih•t the aud￿ e￿nCe we hav• obtained 18 8ufficient and 8pprowat• lo provide a bui8 fry OPbn60n. Conclu•lon• r•l•Ung to golno ¢on¢•m In audlting the ffnandal statements. we ha￿ conduded Ihat th• Gtyfery￿. use of Ihe swlng b18IB of accountlrg In tha prnpar8Uon olth8 •tAt•ment• li ¥pprowlate. Baled on tho work w& havo porfwmod. we hav• nol 1dÈntffj￿￿ ony matsfiul Uncerta[nti￿ r•lglww lo eventB or conditlon• that, indlvidually or¢oW￿￿Vety, ca818lgntficonl ¢knibt on the Charit<8 abllty lo 81 • going ¢oncam fly • ￿rfod ol al least ￿[¥• months ITom when Ihe fironclal 8tatements ￿ •ulhOri8￿ for188ue. Our Tel￿n￿ObIl￿Oi and IhB Te•ponslblllw8 d lh& Govtrmw r••p•ct to (yjncem aro deocmbod In the rol•vart 6•cOon8 oflhts Oth•r Inlornib The Govemorn ar& re8ponslbl• ftw the ￿er i)lonntht)n. Th oth•r ?nfDfTnatK>n comprf••s th• inf0m￿on Includad In the Govemors, OMuo1 reF#Xt. other than tha ffin8wal slatements our aLKJitorfB report therw. Our opinion on the fin•n¢ial Ilaternents d￿ not cover the other 1nfomwb.on and, ex• to the ethnt￿ expl.￿¢1Y •tatsd in our roport, we do not •xpre84 any fom) of essurnnce w)¢￿Si￿n the￿on. In ￿nneCtIOn with Our oudlt of ts fin8rd41 fyt•ternwts, wr resw)•lxlty ts to read ts oltrh•r inlormatbon and. In dolw ￿, conskler wheth•rth• ether inform4tSon 1$ mat¢rfdty In(>Jn8iSt•nt ￿th ￿ financial siatemonts or our kno%￿edge obtslned in the audtt or oth$p￿se app8aTs to be rrthrialty rywsstaled. 11 w• id•rffy S￿h materfal inLTh5i8te￿les or apparnnt m81erial miBS(atement8. we are required to d•t•nYMne whether 1$ a materi81 mi8st8lem•nl In the ffinancial Btatem8nts or a malerid misstgt•mentoltheotherlifom8tp)n.11, ba$edon have perf￿￿. w• condudg that thete 1$ o ￿￿1￿11￿1 [nI￿tatement of this cdher informatlon, we are wiired to roport th81 fact. We havo Mthln9 to report In thi$ regard. Mattèr4 on whlch w¢ are requlred to r•port by •xceptton We have nolhing to r•port in respect of the follrymng mattern to th Ihe charit￿ IA¢(aunt8 and Reports) Regulation5 2CQ8 roquim u8 to reportto you rf, in ow oplnkx).. the Infomalion gwen n the flnancial statements is irrwolstenl in any matsr41 ￿SPect￿th the G0￿Mor5, rew)rt,' or BLrffieient aCC￿Unti￿q record$ hovg not been kerrt". or the ￿n#￿i•l statements are not in agre￿n￿rt ￿th thè ac(xjw￿n9 reccKds and relums: or we have not rerEived all the infofflthon and 8XFAaMkn& we require for our aud*. 19-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF THE HOSPITAL OF STJOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM Ro¥ponslblllth• of Governor¥ As explained more fully in the Go¥eM￿s. rowmfoillie5 51atenwrt out ￿ pAg8 18. Iho Govemcn 4re responslble for th8 preparntion ol financial 8ts1ements which gwe a Irne and falr vivw. and for internal control 88 Ihg Governor8 delemine18 necessary to enable the prwgratknn offUwci￿ 5tatemonts that arn fra8 from maten'al miulatsmeni, whethar dl￿ to traud or efftJr. In preparing th• financial ststemenb, th• Gtr4emorn am •u•i$lng the CharW$ 8blllty lo continue as golng concern. dl$closlng, as applu￿•, matters rnlated ¢0 gc4ng ￿lCaM and u8Kig tho goir¥J ¢onc•m b8818 of accounting unlB88 the G￿mOr3 either intend to Ilquldate the Charity tyto cease operatK+n8, c have realt61K allematfve bLrt to do Audlloe¥ rn¥poMlb511tlM forth• •udlt of th• fln•nclal •tatom•nt• We havs been appolnted 88 audltor und•r M¢tk>n 144 of ts Charllkn Ad 2011 and roport In aceonlanca wlth regulalk)nB made undor 8eclion 154 of th&1 ACL our0b￿ctiv￿ #ré to oblain rea8onabKI abo¢A thrlhefinllncW Btsterngnts a8 4 vhK)18 are free from rnatedal misstAtennl, whether lo fraud or error, and to 186ue an #L￿￿0￿8 report tho1 our opinion. Re88onabl• 8S8urnnca i• a high level of a$8urance, not 8 guarantee that an oudrt conducted in accordance with l&l• IUKI will 8hvays dstect a rnaterfal m183tal￿nt vth•n 11. exists. Mis$totoments cen aris• from fr8ud or orror ONI ￿ consldered mateflal If, Indlvldualty or In the aggregate. ¢hey ccwkl rtaBoMbty b• exp￿t¢d to inffuorto th• economlc dw8ions of uièr• tken on the basm of these finartcl￿ tstatefflents. Irr•guLqrlOe•, Irt1￿lIng fraud. are In•tance$ rf rKvtr<>ynplknc• ¥Ath rngulallon8. We deslBn proc•dures In line vhlh our r08pon¥ibillies, ￿JIllned aÈwe, to det•¢t material ￿$statements In respecl of Irregvlority•8. IndudiThJ fraud. Th¥ gxtent lo whth ovr procedure8 are Capa￿ oldet•cllng iThegJaiilie8. hud r4 detallod bolryV: In addw8lng the fisk of fraud through managwn￿l of c¢ntroh, tsjlkng th• approprtatenuB ol loumel •nlrio8 and other adju8tment¥', A88￿41n9 whether the judg•ments made In 8rcounlKw e8timgtos We ¥Klicalive of a potontlal bisB.' Evalufjtlrrfd the ralKJnale ofany 8hJnfficarrt tranwtion¥ that are Un￿ul1 oroutsid• lh• nornal courng of bu8lne41,' AnatyU¢al procadum ur• pwfrrmed u well ￿ 8uhl•nlNe tosthg to id•ntrfy any pot•ntlal N$itslefflont duo lo froud,. and The audit prctedum wo￿￿ also Involve ￿ng awafv of any such from revielng minut•8 And thlrd paty Communi￿l￿n$ and report• and di6gJMkTh 4th sl•ff arKI managermnt to obtain an und•rBtanding. Bocauie of the inher¢nt I'rnithlon8 of an audtt, Ihefe is a rbk that wtr will not d•tttt 011 iwregul&rltse8. Induding Ih)se18ading lo a Fnglerwl rni8Statorn•ril In the ffinand8f $t8t8menl8 or nor￿C￿phance wth regulatlon. ThiB risk In￿¥&9￿ th? fflo￿ that complLqn¢o with a law or rtyuLqllon is rernoveil from the ￿ert$ Ind tranwXion8 reflect•d in ihe finand81 •tstements as we will b• le88 likety to bec￿￿8 OW￿ of instances of [M)r￿PIlone&. The risk 18 greater regwding irregularitle8 ocwrrlw due to fraud ra￿ than effor. as froud invofvei wttenlion81 ConC￿lmen[ forgery. cdluslon. omission or mIBrepre¥?nlal￿n. A ft￿her dascrfption DI our responslt4l￿e& ftjr ihe of the flnanclal state￿￿nts is locatod cffj the Financial Repor￿ng Coundl's w8bslt• 81.. httpsjlwvhv.frc.0rg.u￿our-W0￿lAUdrUAUdIt-3nd-ajswanc?1Stan￿hrd￿-and%UIdanCa1St3ndxrds- and*Uidar￿e-for-au￿itQI$1Audit0rl.￿sM1n5lbATt￿-A￿J1til)e￿O￿jn-0f-￿￿tOTh-re￿p0nS1b1l1t1t8-fOr-audIt.a$px.Thls d8$¢rfpbon fo￿8 part of our auditorf% raport.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM U8• ol our report Thls report 18 mada to tr.e ChariV• Go¥effm. ￿ 8 bth, in ft(XOTdanc• with Part 4 of the Charili•s {A¢counts and Report¥l Rewlations 21Y)8. Our audit work has been undertaken BO that wa mlohl state lo the Charitys G0￿MOrn th08e mAtt•rts we are required 440 Stale lo them in an auditors. report and ts no other pu￿086. To the fiJll88t extent permitted by law, we do not accept or8S8umo res￿nSIbl1￿Y to anyon• olhw the Charfty arnl tho CharW• Govemors a8 a body, for our audit work. for ￿.$ r•port, or If* Ihe opmions hav• fonned. St•phon8on 8m•rt & Co Ch•rter•d Aceountsnts ststutory Audltor 36 Tyndall Court Commorce Rood Lynch¥￿tr Petethrough Cambrtdge•b.ire PE2 6LR Sleplierwn Smort & Co18 e￿91t￿e lo act • an auditor In l•rm8 ol secllon 1212 of the Companle¥ Act 20C6. 21

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM STATEMENT OF FINANCIAL ACTNITIES FOR THE YEAR ENDED 6 APRIL 2021 Unrestrfctod Re•trlctBd P•nnanent fund• •ndowm•nt fund• Totsl 2021 Total 2020 Charitable activllles Inve8tm8nts Other Income Donations and legacie8 658,179 115.019 3.550 656.179 115,019 28.050 680.795 136,018 3,073 5,240 22,500 Totsl Incon)• and •ndowm•nts 774.748 22.500 797,248 805,126 Charftsble actlvhle• Inv8strnent m•nogemwrt CO8ts 550.485 23.081 153,489 703,954 23,081 744,259 21,944 Tot•1 rn¥ourGM •xpend 573,566 153.469 727,035 768,203 N•t Incomlnglloutllolngl r•8our¢ b•forn trnn#f•rn and g•ln•llloM8•1 on Invmtments 201.182 22.5¢)0 (153,4691 70,213 38,923 Net gaiMI(1￿¥S￿) on Inve8tment8 74.236 935,891 1,010,127 1443,526) Not Incomlnglloutgolng) r•wurcM b•foy• tr•n¥f•rn 201.182 86,736 782,422 1.080,340 (404,6031 Gr088 tr?￿llerg ￿1V￿n lund• 183.680) (21.898) 105.578 Nel mov•m•nt In funds 117,502 74,838 888.000 1,080,340 (404,8031 FuFKt balarw at 7 April 2020 700.344 310.612 9,478,495 10.487,451 10.892,054 Fund balancm at 6 Aprll 2021 817.846 385.450 10,364,495 11.567,791 10.487.451

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM BALANCE SHEET AS AT 6 APRIL 2021 2021 2020 Flxed auots Tangibl8 assets Investments 12 13 5,444.661 5.994,434 5,479,969 4,972.075 11.439,095 Curr•nt a8••t8 Debtors Ca8h at bank and In hand 10,452,044 53.878 4￿,46 20,786 307,501 480,322 Cmdltorg: amoun1• falllng du• wlthln one y•ar 328,287 16 {108,479) 179,9421 Net current ai•ets 351,843 248,345 Total a••o¢1 lo•• current Ilabllltl•s 11.790,938 10,700,389 Credltor•: •mounts falllng duo aftor mor• than ono y•ar 17 {223.147) (212,9381 N•t M•ots 11.567,791 10,487,451 C•plt•l fundJ Unrestrfcted fiJnd8 - gengral 398,170 278.184 UrkT8trtcted funds . designated 21 419,876 424.160 Total unreltricted knd8 817.848 700,344 Endowmènt fund8 22 Includlng ￿valUatIOn res8The of £1,937.885 (2020.. £1.139,366) 10,364,495 9,476,495 Reslnclèd funds InCIt￿n9 revaluaikn rnseNe 01£fj73,761 (2020." £199,526J 385,450 310.812 11,se7.791 10.487,451 The financial stslernent8 wwe approved by the Govemiry Body arKI aLrthorised lor Issue on 9 July 21Y21 and are gigned on rts behalf by. D Pattinson Governor Jorne Govemor

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 6 APRIL 2021 2021 2020 Cmh flow from op•ratlng •Gtlvltl•s 142,522 70,825 Cuh ljow from Investlng actlvltl Purch86¢ of tsn9il￿e fixod assets Inve8trnenl purchases and disp￿1# Interest income Investment Incoma (nèt of investment manall￿nent C￿ts) (121,4351 3,057 595 (￿),273) 344,087 3,812 91.938 114.074 Not calh fl¢)w fffjm Invmtlng •cU¥lll (25.845> 101,500 a¥h Ilow from ftnanclng •¢tlvlU Repayment of bank loon• Drawdown Df loan Interest pokl {11,815) 25.000 (15.8281 {11,295) (18,5281 N•t cmh flow from Ilnanclng •ctlvltl 12,443) 127,8211 Net Incr•a•• In ca•h •nd c••h •qufval•nt• 114,234 144,304 Cash and ¢98h equlval•nti ot beglnnlry of year 811.7e7 867,463 Ca•h and c••h •qulval•nts al •nd of yHr 926,001 811,767 Ca•h and calh •qulval•nts conglsts of: Bank balances and short lemi deposlts Investmerrt cuh balances 406,448 519.555 307,501 504.266 Ca•h •nd Cash •qulval•nts at •nd of yvar 926.001 811,767 -24-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 6 APRIL 2021 2021 2020 Note111- Raconclllatton of n•t In¢omel(•xp•ndltur•) to n•t cash flow from operatlng •Gtlvltl•• t Incomlnw(outyolng) rvdourc 70.213 38,923 Adju8tmentB for.. Inve81menl In¢oThie recogn16ed In $ta•hment of finardal gctmtiès Investment management co818 Depredollon and1088 on di8posat of langiblg fix•d 888el¥ Interest payablé Intere81 rèc61vod DeGreasellliKrna8a) in debtorn (Decr8a8èylnc￿$e In credl (115,019) 23,081 156,743 15.628 {5951 133,0901 25,561 1138,0181 21,944 172,654 16,S28 (3,8121 722 {40,5141 Not ca•h flow from op•rntlng Ietlvlti 142,522 70,625 Nots111}- Invmtment pu￿h•￿¥ and dl•po••l• Pur¢h850 of oth¢r inve8tmer Proceed• M di8po8al ol other Inv•8lm0nts (898,6251 701.882 {537.4691 881,558 3,057 344,087 Not? (111)- Depr•Glatlon and Impalmwnt af t•nglbJ• fix•d DepreGialion and Impalmienl of t8ngible fixed aB¥ots Lo88 on dlgposal of tangible fixed assets 155,745 998 146,529 26.125 156.743 172,654 Anatysll of changp¥ In Mt debt Balanc• •t 7 Aprll 2020 Cash flo¥ Other Balance at non4a8h 6 Aprll 2021 mov•m¢nts Cash Loan5 due one year Loans due after one year 307.501 98.945 {11.747) 12,9761 1212,938} (10,209) 408.446 114,7231 1223,147) 82,816 168,576

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2021 A¢countlng pollcl Ch4rfty Infofmatlon The Hosp't81 of Sl Jthn the Evangelist ar￿ of St Anne in Okeh8m i& a Reglstered Charity and Reglstered Soclal Htsusing Provmler that 18 primorily an Amsh¢)u Charity. 1.1 Accountlng conv•ntlon The Charfty constltutos a pubfic benefft en￿ty J5 dellned by FRS 102. The financial 8tat8mentB have be8n pared in accordonce wth ACCI￿ntIng and Rewting by Charft186.' Statement of Recommendèd Pradico applicable lo charities preparing their accounts in xcordance ￿ the Flnandal Rew)rting Standard appliGable in the UK and R8putrJic of Ireland1s8ued on October 2019, Ihe Fin8nelal Reporting Stsndard applicable In tho United Kingdom and Rewblk of Irdarrtl (FRS 1021, the Chariti?B Ad 2011 and UK Generally Accopled cOun￿n9 PTrcJGe. The Charfty Is 8 Réglstered Social Hou•ing Provider. In accordanc6 ￿th the requirement$ of tho Housing SORP. the Chority haj appllod the Char6tles SORP in the prepar8Oon ofthese financlal statsment8. The aCcO￿ts have departod from the Charft￿5 IAcwJnts and Rep)rtJl Regul8tSons 2008 only to the axtenl requlred lo provide a and ts"r vlw. departwo ha8 involvéd foll￿n9 the Stalemant of Ro¢ommendod Practlce fnr ch8riti88 apptyuw FRS 102 rather than the vernon of the Statement of R￿ornMended PraGIi whlch18 raforred to In the Rggulalion8 but whl¢h has sirKe withdrasvn. Tho accounts we pr•pored in 8terflty, tAthlch Is tho fvnCWOn￿ cu￿8￿ of Ihe Chaty Monotary amounts In Ihe8e fjnancld Statements arè rounded lo thg near¢ £. Tho aecwnts have been ￿yepared on the hilto￿￿ ¢Nt convenllon a• modiiled by the rev8luallon ol Inva•tments. The ￿￿nCIPal ￿untIng polbcie8 adopted Set oul bgbw. 1.2 Golng conmrn At the Ilme of approvlng th• accounts. the Govemors have a rea80nabl8 expectation that the Charity ha$

d4u81• resourcas lo ¢onDnue in aperakn'O￿ ￿$tOnCe for tho fm8eeable futur8. Thus the Govemorn

Continue lo adopt the going concern basi8 of accovnbng in preparfng the ￿¢sUnIl. 1.3 Charftable fund• Unr••trl¢tsd lund• Unre81ricted fvnds aro aVaIlab￿ for Ltse at the ¢*scretlon of the Go¥emors in furtheranca of th•ir charitable objectlvg$ unless the fund8 have bean dèsignaled ft)r other purposes.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 Aecountlng pollclBs Icontlnued) Ch•rttabl• lunds Icontlnu•dl Unr8•trlctod fund• {contlnu•d) The following unre8tricted fLNth havebaen dulgnatedatthe di•cr8tion ofthe Gov8mor8 for 8p¢crfi¢ purpo888 a8 follo￿.. rao Th¢ extr8¢xdlnary repair fiM)d has been Mt up to i)Jnd ￿rge Jcal& rwlrn, renovati¢)nJ and improvémer whlch occur from lima lo time. The cyclical maintenance lund has bwi s•t up to fvnd periodK. non annual. repalr8 and malnlenancé 8nd 18 fvnded by an amual tranifar lJa•ed on The Ajm8h￿S$ A48ocialion 9uidel1r￿ figur08. R•8trl¢t•d lund The Rècoupment ftmd wa$ set up in two $ts906, firnlly v•1￿ the Charity oxpended c8pItsI low8rd¥ the co8t of the South Street, 08khm Ilats in 1976. and seGondty vhen capital w85 exponded on the ffir8t development 01 Upplnghom in 1980. In t¢)th ca8e8. the Charity w88 req￿red by the Charfty Commisslon to 86185ide an annual Sum over Sixty years to recoup this cap￿81. that temi expirn#. the bolanca on th¢ ReBerve will be tran8lerTed the credit of Pa￿•nent Endm¥menl ar¥J the 8888ts hold on account of the r88gtve traroleffed to Flxed A88et Invo•tsnonts. ersi Thig fund relatea to Soclol Houliw Gr8nt awarded to facilrtate development arnl provl8lon of Affordabl• Housing. The use oflhe gr•nt 18 restrtct8d tothe do￿¥8ry olafftKdable dwelllngs pursuant to Homes England, Shared Ownernhip Affordable Homes Programmè 201&2021. p9￿•n•nt •ndowm•nl fund• Permanent endovmient funds rgpre8ent thè ¢aw'tal of the Charrty and are invested in operational propErtieg 0.é. olm5hou88 reBidential propertie81. famlarKI. Ikqted In¥e81ments and cash. Thi¥ Gypit81 is not •xpend8bl8 but th8 Income generatod represen18 unreStri￿od income. Incomlng rn•OU￿ Income is recognlso(I when the Charity t¥ IWty enltknl to IL I resldénts, weekly m8intenanGe corrfributi(xM are recogThsed whw due arvj investment Income IB recognlsed vthen receivable. R￿UrceS expended Expenditure 15 recognlged vrtv? a Wl or c￿￿tAK￿Ye (￿lIg￿l0Th has f￿ran thae. All expgnditure is accwnted for on an accruaL¥ ba818. All expenses incI￿lIng govemance costs are allocated or apportioned to the applicable expeni*lure he•Sing8. Irrecoverab￿ VAT is Charged as a c051 against the activity for vthl¢h Ihe expwthLwe was irKwed. -27-

THE HOSPITAL. OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 ACCOUn￿n9 pollcle8 Icontlnuod) 1.6 Tanglble flx•d M¥ets Tanglblo fixed 888ets are Inmialty maaswed at cost ond subsewenuy measured al c081 or valuation, net of depretsation and any impalrm8nt108SeS. Frnghold land and hO￿Ing properti Freehold land Is not depreaated. D•prea8tion 1$ Charged so a8 to Vhfte dly￿ th8 1))8t of freehold housing properties lo their eslmaled re81d￿l valug on 8 8tr8ight line basis over thelr estimated ustrfvl economlc lives at the follcAving annual rates.. l¥tsin la￿1¢ of bulkllngs c￿er 100 yea M8ch8nical instatlations Roof OVOT 70 yearg Electrfcal in$tsllaliLhis IAfjndQ￿ and ext¢mal d¢Jor• (hr 30 years Lifts G88 boilor¥ l)Rr 15 yearn Kitchen8 Fire alarm8 and Ilfellno equiwnent Over 20 year8 Balhraom8 Bug9y Store (fver 30 years Acce88 rafflp￿st Over 30 years Over 40 y•ar8 Over 20 yearg Ovar 20 year8 Over 30 year8 Over 30 year8 Tho gain or1088 arising on the di¥p¢yJal of an asset is determined 88 tho difference botsveen the Jal8 proce8dB and the c•(rying vdiie of the a#￿t, and18 recogrM8ed In Iho 8tatem•nl of financial actlvttles for th8 year. Fumljhlngs and ¢qulpm•nt Fumi8hiNJs arKI equlynent are •tsl¢d at C08t le88 accumulated depreuthn. Dgpreclatlon is p￿ded lo wdte off the cost ol 888èt8 over thdr •xpeded economk U80ft￿ INe8 on a Jjtraighl line ba818 of either 10% or 25%. So¢l•l Hou•lng Grant The Ch•rlty l• curr¢rtly re(leveloplng ￿Ul¢d offlce spK¢ into an addltional Iwo bedroom fl8L Ihher8 deveIown￿ts havo been fflnan¢6d vhlolly or porty by Houwng Grnnt ISHG), th• amounts ol the gr8nl8 received are recognIS￿ as incoming rosources u8lng the perfom?arKe model. On the $al¢ of 4 prcpety, ar il another relevant 8v8nl tskes place. SHG may become repayable. 8llhough il is nomially ¥¥ailable lo be recycled and used for a new Social Houslng projecl approved by the Home8 & Communities Agency. The cumulative arnounl Df Social Housing Grant roGelved at 6 Pw'l 2021 wa8 £3.079,37012020.' £3,058,870). 1.7 Investm•nt prop•rtl Inve8tmenl propety, thhlch18 Ixoperty held lo eam rent8L8 andlcrf f(¥ capltsl app￿￿8t10n. 18 measured uslng the falr v8lue model and Staled al 118 febr value at the reportirKJ erKI dale. The surplus or doficlt on revaluatlon 18 reGogn18ed In net incomlng1{outgolngl rel￿reaS for the year. 1A Impalrmont of flxed as•ets Al each repDrting end dats. the Govemor8 rev16W the carying amounts of Its tangible and intangible as$ets lo dolemiine whether there is any indication that those assets havg suffer8d an impaimienl 1088. If any Buch indication exists, the r8coverablo am￿￿ of the 85set h esllmated in order to detemilne the extent of tr,e impairment1035 lif any).

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 Ac¢ountlng pollclH Icanllnuod Imp•lrniant of fixgd •¥s•ts (Cor￿lnud) Recovarable amount is the hlgher of fair valu8 costs to sell and value in u86. In •sse88ing value in u8e, the 88limated future cash flows are discounted to their pre8entvalue using a prprtax disGounl rate that reflects cur￿n1 market 888e8smonts ol the lime value of M￿aY and the ri8k8 Spgclfic to the as3et fthr whlch th6 e8timat85 of luture have not be￿ adjusted. If tha recovera1￿8 amount of an 9S8et is e$lma￿# lo be les¥ than its carrying 8m¢Mnl. the carylng amount ol the asset is reduced to its recoverable 8mounL An impalmiènt loss Is rewnlsed immediately In Incomellaxpendilurèl for the year, Lmlas8 the relevant 88•et Is c8fti¢d at a reVdL￿d amounl, in which cg86 Ibe iM￿mi9n1 lo￿ Is ￿81￿j as a revaluation dow6￿e. Recogni8ed impairment losses are rever88d rf, and only rf, the reasons for th8 impalrrnent have ceased lo apply. Whgre an imp8lmerrt 8ubsequenlly rfrver8e8. tha Carrying amount of the ass￿ l# increased lo the revi8gd estimate of its recover?￿e amount. bjt so Ihal t￿ increased carrying amount doe8 not exceed the Garrying amount that would have been delomined had no imp"mi&nt b08$ been recognised for the 888et In pnoryears. A reversal of an impaimient bsjj 18 reCogn￿ed immedlalety. unle88 the rnlèvant 88801 Is ¢arried In at a revalued amount, In tpthich Ca￿ the rv48rnal of the impalmwitloBD18 trftaled 88 a rev8luotion Increaso. Inv••lrnents Invejtments are recognl88(l inltialty at f•'f V8lue Yknlch h nomiaity the tranoactlon prke excludlng Iran8actl¢)n ¢08ts. aub8equently. l*¢y are mgalured at fair value vllh chary$ rgcognlsed in 'nèl gainsl{10osesl on Inve8tmonts' in the Statement of Financial Athib'e• rf Ihe share8 are publidy traded or th¢ir fair value can other￿1• be measured reliabty. Otlw Inve8lmenl• Jre ￿as￿rnd at CO8t1086 imw'nnenl. 1.10 Cuh and ¢••h •qufv•l•nl• Cash and ¢88h equNalents Indudo cash In hand. dew•ilJ held 01 call wlth bankj. other 8hcrtt-temi IIqLid Investments with ortgln81 maturfdès of three month8 or le￿, bgnk ovardraftj a￿1 cash held a8 flxad 88iet Inveitments. Bank ov•rdr8ft8 are shovffl witlun bcvrty¥lng$ Sn current liabllltiè3. Flnanclal lnitrum•nts The CharNy only has fin￿n￿81 As￿￿ arKI flnancid 11al￿11￿e8 of a that quAIIfy as ￿8￿C financial inBtriJments. Basie ffinorKial instruments aT9 inits'ally ￿Lognised al transaction value and sub8equenlly me•$ured at their 8ettlemenl value wsth the exceplon of bank loan5 which arg $ubsequonlly mea8ured al amortised cost using tho effective interest method and fixed 8$¥el invgstmen18 are recognised aThJ •ubsequently mea8ur¢d in accortance wlth thè aCC￿ntIr￿j polw at note 1.7. Employee boneflts Th8 cost of any unu6ed hollday entillement is recognised in the poriod in wthich th• employee'$ services arg ceived. Temiination benefft8 are rwnised imme(fi¥tetyas 8n expense vA)en the Charity 18 demcrftstrably committed to terminate the employnent of an employee or lo wovide temination ￿neffits. 1.13 Value added tsx The Charity i¥ unatle to redaim any Value Added Tax IVAT) it incu(s tin its expenditure. This irr•covera tsx ig 8 cost 440 the Ch8rity and consequentjy all figur8s ¥￿thin ttr￿e financial statements ar8 $tal8d inclusive of any VAT incurred (unless stated otheM"se). 1.14 Busin•$5 comblnatlons y￿ere acquis￿on$ are in Substar￿ th8 giftiThJ of control of a busines8 tts th8 Ch8rity the ¢ombination 18 trgated 88 a Th)n-exchange Iran¥action and the far value ofthe gifted ass8ts 8nd ThabIll￿¢S in the transaction is recorded as a gain or1085 in ￿ statement offi{w￿ ac1[￿treS in ts year of Comb￿atiOn.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 A¢¢ountlnll polkl•8 Icontlnu•d} 1.16 0￿ra￿n91¢•¥ Rentsls applicable to operating leases whera sUbseq￿llY all of the b8neffts and risks af (ylmorship remain with the lessor are charged to th6 stalemrt of finanual &ti¥ities. 1.16 Major r•palr cost8 The Charfty capitali808 expendrture on houslng properties wthich results in an enhan¢emenl of the economlt ben6flt of the a$8et SLKh a8 an Increa8e In the nel rentsl stream ovor the life of the property. An increase In th? net ￿ntaI slre8m may arl$e through an inryease in net Ml81 Income, a re(kJctth in fvlure maintenan¢e Go8ts, or a 8ignlflcanl eXten￿Oft ol the us6fiA lrfe of ihe propety. ExpérKlilure on workj which does rnl meot Ihi• uilerfa 1$ written off to the Statomenl of Flnanclal Activltl85 in tho year in whlch it IB Incurred. Thi8 indudes eXpeThJ1t￿e Ir£urr•d to en8Um that the proyJrty can malntsin its 8xislng 1oVo1 ol net r•nW Income or I￿ $taThYard of pwlomiance anldpat•d when the propety wa8 firnt acquired or can8trud¢d. crftkal •ccountlng Mtlm•lM and Judg•m•nts In the applkalgn of tho Chan￿ f<¢ounting pc4kle•, the Govemorn are requlred to make ludg8m•nl8, e8timalw and a88umpdon6 about th& rarying 8mount ofa$8ets and liablliknei that Ore not readily 8pp8￿nt from ¢)ther SOU￿e$. The estimate8 and as8odalod a5sump￿0ns ore based on hi8totlcal experience and other factor8 that 8.. COMKleTed lo be relevant. Actual results may drfler frorn these 88tlmates. Tho •silmal8• and undorfylng a￿UMp￿.￿S are rnVI￿ed on an ongoln9 basis. Revl$lon• to 8¢¢ounlng 88timates are recogniséd in the pgrlo¢J in whlch the estlmate is revised vthere th8 revision affec18 onty that perrod, or In the perlod of the ravl$ion and fU￿bre wrlods where the rnv181on aff*ts both currant arKI fvturè pe￿0d$. Charltsblo actMtle• 2021 2020 Pmijjion ofalmshou866. ￿dents. matnlenancè C￿￿rIbUtIonS 856,179 660,795 Invostm?nl• 2021 2020 Rental income Income from listed inve5tmw Interest receivable 8.978 105,446 595 8,955 123,451 3.S12 115.019

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 Other Incorno 2021 2020 Common r￿rn lets Sundry Bite receipts Grant rec8ived- Covid-19 Perfomiance related grant 1,050 2,023 1,569 1,981 22,500 26,050 3.073 AnIlYs￿ by fund Unrestrfcled fimd$ Re￿lirted tJnds 3,550 22,500 3,073 28,050 3,073 Donatloni and l•g•Gle• 2021 2020 DonaUDns and g1ft8 5,240 31-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL sTATEmE￿s (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 Charltablfj actlvrti Provl8lon ol Alm•house¥ 2021 2020 Staff co8ts Deprocl8lion and108s on di8W of fixed assets Day lo day m81nlenanco Cyclical maintenance UtIIRIos Wondow claaning and materials SuFPOrt worker expeMe8 180,703 158,743 64.324 96,519 31,885 1,893 540 165,180 172,854 121,748 84.398 28.886 1,470 529 r 11 Alertac811 Charitable bonefit Land8caping 8uildlng8 and contents Insurance M8nagement Door entry system Vold propertle8 15.094 35,036 23,969 7,726 35,185 11.343 1,494 18,848 39.199 23.969 7,482 46,685 11.340 1,127 e82.254 21,700 721,513 22,748 Govemance ¢081• (800 note 9) 703,954 744,259 Anal￿18 by lund Unrestrfctsd fund8 Endowent fund8 550,485 153469 574.286 169 993 703,954 744,259 Inv••tment min•gem•nt ¢o•ts 1021 2020 InYe8tm&nl management 23.OB1 21,944 23,081 21,944

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 Support cos1• Govornanc¢ 2021 2020 Ba818 of •llorAtlon A￿j11 fees Inl8re81 p8yable 6.072 15,628 8.072 15.628 6,220 100% charitable activilles 16,526 100% ¢lwitsble aCtI￿tIeS 21,7CKI 21,700 22,746 10 Gov•rnorJ Nom ofthe Govemor8 {Ofany pwsons ¢Mn8ctod with ttthil r￿ved any r•muneratk)n from th8 CharitydurlrvJ the year. One Govomor was relmbutsed a total of £43 for travelliro eypen80812020.' £129}.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 11 Employ••s Number of wnployeo¥ The average monlhty number of persons emptyed by tho Clrity during thè year w￿". 2021 Numb•r 2020 Numb•r Clerk Administrats(Jn A8SiStant Property So￿ke8 Manager Finance Officer Reslderto, Support Worker Hous8kèÉpar Employm•nt ¢0sts 2021 202Q Wage8 and •alarfes Socld 8¢fvuiity r￿sts Other van￿on ¢oBts 1S7,726 10.4e8 12,511 144,112 9,204 11.884 180,703 165,180 R•rnun•ratlon of key rnanag•ment pfrrnonn•l The r•Thineratlon of key maui 98monl Fersonnel k8 a• fd10￿.. 2021 202D Remunerallon benèfits for Ihe Clerk lo Ihe Charity 52,095 46,388 Thor• ware no employeej whose annual reMwer•ti￿ wa8 £60.000 or more.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 12 Tanglble flx•d as¥•ts Flxturn. rtdlws fitt1n￿ and Total CNt At 7 April 2020 AddlOon8 D18posal8 7.589,443 118.799 (15,918) 64,449 2.638 (8981 7.853.892 121,435 118.8141 At 8 Awil 2021 7,692.324 86,189 7.758,513 D•prnclatlon and Impalnmnt At 7 April 2020 Deprecirtlon charged in the year Deprncialjon on diSPD8als 2,122.100 152,471 {14 920) 51,823 3,274 18981 2,173,923 155,745 115.8161 At 6 W',12021 2,259,651 54,201 2,313,852 Carrylng amount Al 6 Apnl 202 1 5,432,6n 11,988 5,444.681 8 April 2020 5,467,343 12.826 5,479,989

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 13 Flxod ¥s8ot Investsnonts 2021 2020 Llsted investrnents Fgmiland C88h cash equivalents.. - Inve8tment management dep06it account - COIF deFwIt account- Extraordinary repalr fund - COIF deposit account- Gyaicd meinlenance fund 4.819,879 655.000 3.812,809 855,000 80,262 358.079 81,214 76.640 370,383 57,243 5,994,434 4,972,075 The familand w8¥ valued in March 2019 by Rthaffjson Chartered Surv8yor8 an Independent professlonal valuar. The GOverr￿)r6 are of the Olmnh￿ th8t revduauon con￿nueS lo reflect the fair value of the fannland al 8 April 2021. The18led investments are valued at market valu•. Tr Govornor8 constder variability of inv8#tmenl retum• on the pe￿anent endrA￿nI lo con8ltute the Charity's major financw ri•k. This Is mits'aal8d by F￿ainIng expert Investment managers and havlTrJ a dNor81fiod invastsrtht ￿￿thi￿o. Movem•nts In flx•d a•MI Inv•stments Ca•h F•nnland Totsl Co•t or valuatlan At 7 Aprfl 2020 Addillonl v8lu8b.on char¥Je8 Di8po8als 504,206 3.812,809 15.289 696.625 872,754 1564,309) 655.000 4,972,075 713.914 872,754 {584,3091 At 6 Porfl 2021 519.555 4.819.879 655,000 5,994,434 C*rylng ampunt Al 6 Aprll 2021 519,555 4.819,879 655.000 5.994,434 At e April 2020 504.266 3,812,809 855,000 4,972,075 Thè gain on investment dispo88L8 duriTr4 Ihe year based or, histsiic cost wo8 £129,488 (2020.. £333.9841.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 6 APRIL 2021 14 Flnanclal In$trumont8 2021 2020 C•rrylng amount of Ilnanclal u•ots Equlty instruments mea8u*d at fair value less impaimierrt 4.819.879 3,812.809 4,819,879 3,812,809 Carrylng amount of ff nJncl•l IlabllSt Lo4n5 measured at aM0￿se￿ eost 237.870 224,885 Fln#nel•l •15ots phdg•d a• GollJter•l The loans are 8ecured and 8ome a variabl• rnl¢ ol irtWO8188 d88cribed in nola 18. The interest payment8 On thasé lo•ns are therefor8 Susceptib￿ lo thanges In Interest fat88. The Govemors acknovAedge thèsè d8k$. though they also a¢krth)vAedge thal thg fln8ncial impact of any increa8e8 in inlar88t rale8 wll bo mitigoted ty corre8poThtiw Increa•os in Iho porfomiarK6 of tholr fix&d aiset Invastments. 11 D•btor• 2021 2020 Amounts falllng du• ¥Athln one y•ar. Other dobtor• Prepayments and a¢¢fued income 35,483 18,413 1.858 18,928 53,876 20.788 16 Cr•dltors', Jmount• f•lllng du• wlthln ono y••r 2021 2020 Not•1 Loan$ and ovordraft8 Trade credlors Other creditorn A¢¢rua18 and defgrred inwrne 14,723 83.477 14,574 15,705 11.747 39,624 11,001 17,570 108.479 79,942 17 Cr•dltoTh: amounts falllng duo aftor mort than on• y•ar 2021 2020 Loan$ and overdrafts 223,147 212,938 -37-

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 18 Loans and ov•rdrnfts 2021 202Q Low lern.IK)u8ing loans 237.870 224,685 Payablg vlthln ane year Payable after one year 14,723 223,147 11,747 212,938 Amounts Included above wh￿h fdl due after five yearn.. P8y8ble by In8talm¢nts 161,047 162,788 Tha long-temi hou8lng lo9￿ art ieeured by ip•dffc charge8 on trjo Charftyj hous.'ng prope￿0$. Th? Charlty has loan facilities wtth the NoNAch and pete￿OroUgh 8￿[dIng Society ond Ruuand C￿aTrty Coynal. The108n thlllues are Secured by 8pecrfk charg8s on Ch•rity'J housinq proporties. Thgre are loans Ruuand CoLinty Councll. On8 kn a fixod rate loan tththlch Is rgpayable al a r8te of 12% per 8nnum. the othw ha• a fixed annual capltal fapayment ¥thith interest cakulatod at prwalling local govemment ratsg. The remalnlng I¢An the NoThwch ftnd Pat8rlJorW Bulkllng ￿aty 18 repgyable at a vadable Intarn$l rale based on LIBOR plus a margln of 1.25%. 8ubiect to a mlnlmum inigresl rate of 4.2%. The loan$ oulstarKliryg wth RutiaTrJ County C￿n￿l totalllng £112.95512020.' £114,273) dug lo be fully rep8 d in 2048 and 2052 respectivety. The loan 01 £99.91512020'. £110,412) outstandlng Imlh Nopwlch and Pelerb)rough Bullding Society is due lo be luUy repaid by 2028. During the Gurrgnl year a loan of £25,oc￿ wa$ rOCONed fr(Mn The Almshouse A8soci81ion. The loan 1$ Intare81 free and UnS￿UTed. The loan is repayable ovw 10 years and repald In six monthly in8talmenls. 19 Lea80 Commltments 2021 2020 The fLrture mlnimum r4)er8tlng lea80 paymonts are 88 ft￿kX$'. V¥lthÈn om year Botsveen one 1*0 years Bemen ￿ arKI five years 15,000 15,000 25,000 15.000 15,000 40,000 55,000 70,000

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 6 APRIL 2021 20 Analy¥ls of n•t ass•t• b•tw••n funds UnrBstrl￿ D￿19ndted R•strfcl•d Endowm•nt fvnds funds fund• funds Totsl Fund balance8 at 6 April 2021 are rgpre$¢nts¢J by.. Tgngible1Sxed a88ets Inve8lmen15 Current asselsllllalylitles) Crethlorn due after ane year 11,988 19,616 388,566 5.432,873 5,169,692 {14,7231 1223,1471 5,444,661 5.994.434 351.843 (223,1471 419,678 385,450 398,170 419.676 385,450 10,384,495 11,587,791 21 DMlgn•t•d fund• B•l•nc• •t 7 Aprbl 2020 Tran•f•rn B•lan¢o at 6 Aprll 2021 Cycllcal malntenance lund Extraordinary rop8lrs fund 55.829 368,331 5,767 110,251) 61.598 358,080 424,180 14,484) 419,678 22 Endowment fvnd• D•Pre￿IlOn •nd lom on dl•poul of land and bulldlng• R•v•luallon¥ galns and Balance at 6 Aprll 2021 Balanc• at 7 Aprll 2020 Trnnthrn Pwmanonl ènd¢y•wnent fund 9,476,495 (153,4691 105.578 935.891 10.364.495 Tran8fer8 frtyn gener81 fvnd$ of £83.078 irKlude adrffyon$ to land and buildings, a loan from Tho Am$housa A6Boryotion and loan repaid during the year. Transfers from restricted fvnds of £22.500 include 8 capltal grant.

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021 23 RMtrfct•d fund• lTrGrvas• In valL• of Balanc• at In¢om• Inv8•knents TranJf•rn 6 Aprll 2021 Balance at 7 Aprfl 2020 Recgupment fvnd Offlce coiiver8iGn prolect 310,812 74,236 e02 122,500) 385,450 310.812 22,500 74,236 121,898) 385,450 24 R•lat•d partkn• The Clerk's Mothe., is a re3ident of the Char.ty. The applution for. and teryns of her eppoi',itmenl were undertakei on an aillls-length basis in accordance wlh the Charity's noriTial policies and praoAddres. 25 C•pftal ￿mmItM•nts Capital expenditure contracted for but not provided for in llnanelal stalements apKunts to £63.802. Thls is to be financed wrth jnt6.mal cash luryding together with a receNed from The AnshodSe Association and a grant from Home8 ErMJland.

Charity Registration No. 218931

Registered Social Housing Provider No. A0611

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 APRIL 2021

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

CONTENTS

	Page
Governors' report	1 - 18
Introductory sentences
Reference and administrative details
Objectives and public beneft
Governance and organisation
Principal activity
Achievements and future plans
Financial review
Statement of Governors’ responsibilities
Independent auditor's report	19 – 21
Statement of fnancial activities	22
Balance sheet	23
Statement of cash fows	24
Notes to the statement of cashfows	25
Notes to the fnancial statements	26 - 40

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

The Governors present their report and accounts for the year ended 6 April 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing instruments, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”.

Reference and administrative details

Working title St John & St Anne Charity number 218931 Registered Social Housing Provider No. A0611 Principal address Mill House South Street Oakham Rutland LE15 6HY Governing instruments Royal Charter dated 3 May 1597 as amended 2 July 1976 Supplemental Charter dated 21 January 1998 as amended 27 February 2003 and 9 February 2011 Principal advisors Auditors Stephenson Smart & Co 36 Tyndall Court Commerce Road Lynchwood Peterborough PE2 6LR Bankers Barclays Bank plc 10 High Street Oakham LE15 6AN Norwich and Peterborough Building Society Peterborough Business Park Lynch Wood Peterborough PE2 6WZ Investment Managers Smith & Williamson Investment Management 3rd Floor 9 Colmore Row Birmingham B3 2BJ

• 1 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

Principal advisors (continued)

Farmland advisors Shouler & Son County Chambers Kings Road Melton Mowbray LE13 1QF

Murray Market Street Oakham LE15 6DY

Governors

Chairman

Mr D Pattinson

Name Committee membership Ex-Ofcio The Bishop of Peterborough The Dean of Peterborough The Patron, Ms C Johnson The Rector of Luffenham The Rector of Uppingham House (to 24.2.21) The Vicar of Oakham Ex-Ofcio appointees on behalf of: Dr J Seden on behalf of the Bishop of Peterborough House, Property Mrs J Mayhew on behalf of Rector of Luffenham (wef 24.2.21) House Rev D Smith-Wilds on behalf of Rector of Uppingham (wef 24.2.21) House

Peterborough Diocesan Board of Finance appointees:

Mr R Smith Property (Ch), Finance & GP Mr D Pattinson Finance & GP Mr V Harvey Finance & GP, Property Co-Opted: Mrs E Woodhead House (Ch) Mrs A Whittington (wef 1.8.20) House Mrs H Bush (to 31.7.20) House Mrs S Spilner House Mr J Orme Finance & GP (Ch), Property Mrs F Craven House, Property Mrs E Jupp Finance & GP

Officers

Position Name Clerk Mr P Martin Property Services Manager Mr D McClelland Administrative Assistant Mrs K Ayres Finance Officer Mrs G Matthew Residents' Support Worker Mrs V Porter

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

OBJECTIVES

Based on the terms of the original licence for the foundation of the Hospital dated 21 May 1399 and the Royal Charter granted by Queen Elizabeth I in 1597 (and amended in 1976) the Charity’s purpose is to provide accommodation for almspeople who shall be poor persons resident at the time of appointment in the District of Rutland or elsewhere in England.

The Governors review annually the strategic elements which they consider appropriate for pursuing the above charitable purpose; during the year under review they re-confirmed a strategy summarised as follows:

• 1) We are a Rutland charity.

• 2) Our aim is to provide good quality and well-maintained accommodation, and an environment suitable for retired people who cannot afford their own home, to lead independent lives for as long as possible.

• 3) We value community and continuity for our residents and for ourselves.

• 4) We work with others who share our objectives.

• 5) We look to the long-term health of the Charity.

• 6) Our priority theme for 2021 is to continue to improve the suitability of our properties.

PUBLIC BENEFIT

The Governors have due regard to the Charity Commission’s guidance on public benefit. They believe that the Charity provides a public benefit by the provision within the County of accommodation for older people of limited means, which enables them to be able to live independently.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Hospital of St John the Evangelist and of St Anne in Okeham is a body corporate (by virtue of the 1597 Royal Charter) with a Governing Body and staff.

THE GOVERNING BODY

The Governing Body is made up of 15 members – the Patron (being a descendant of Archdeacon Johnson, the petitioner for the 1597 Royal Charter); 5 ex-officio Governors (being persons holding specific offices in the Diocese of Peterborough and in certain Rutland parishes); 3 Governors appointed by the Peterborough Diocesan Board of Finance; and 6 co-opted Governors. In 2011 provision was made by Supplemental Charter for any ex-officio Governors who so wish to appoint, subject to Governing Body agreement, an appropriate person to represent him or her at meetings of the Governing Body; currently 3 ex-officio Governors are represented by such an appointment.

The Governing Body meets 4 times a year; in addition, there are 3 committees (House, Property, and Finance & General Purposes). Also, from time-to-time ad hoc working groups are formed to address specific topics.

The Governing Body is conscious of the need to maintain, as far as possible, a matrix of skills and life experience combined with continuity of appointment. To this end Governors approve from time-to-time arrangements for persons who are willing to become full governors when a

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

vacancy arises to attend and participate on a non-voting basis as ‘governors-in-waiting’. This is an important aspect of the induction process and ensures an understanding of the Charity is acquired before becoming a full governor. The Charity’s induction procedures ensure that prospective governors are made aware of the responsibilities of being a governor. For recruiting prospective governors the Charity makes use of Governors’ knowledge of the local community, supplemented by wider publicity.

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

THE CLERK AND STAFF

The Clerk is the Chief Executive Officer of the Charity. In addition, there are four other staff members employed to undertake finance, property, and support functions. There is also a Housekeeper, employed on a part time basis, to ensure all communal areas are clean and tidy.

The Governors approve remuneration levels designed to enable the Charity to recruit and retain the skilled staff needed to manage, support, and deliver its aims. The Charity has a policy of paying at least the Real Living Wage. Remuneration is adjusted annually in line with RPI.

OUT-SOURCED PROFESSIONAL SERVICES

The Charity has outsourced certain services, as follows:

Property and Estates Management - Nottingham Community Housing Association, Investment Management - Smith & Williamson Investment Management, Payroll Services - Stephenson Smart & Co.

PRINCIPAL ACTIVITY – BENEFICIARIES & OCCUPANCY

The Charity provides almshouse accommodation and grounds at two sites in Oakham (South Street and St Anne’s Close) and one in Uppingham. It seeks to maintain the accommodation and its grounds in a good state of repair. It provides housing support services to residents, as described below.

BENEFICIARIES

As at the end of the financial year there were 116 beneficiaries (42 male, 74 female) occupying the 102 properties.

Currently the youngest beneficiary is 61 years of age, whilst the eldest is 97 years of age. The age distribution at each site is shown in the graph below:

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

The current average age of all beneficiaries combined is 80.1 years, this is a decrease on the figure for last year (81.1).

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

PRINCIPAL ACTIVITY – BENEFICIARIES & OCCUPANCY (continued)

Comparing the available evidence for previous years, the upward trend at Uppingham continues, with the average age sitting close to 82 years. This, perhaps surprisingly, is despite 41 % of its beneficiaries being male.

South Street continues to follow a long-term downward trend having recorded its lowest average age since such records were maintained:

Resident Movement during the year

During the year 2 beneficiaries moved on to accommodation elsewhere. This being less than the 5 such moves seen in each of the previous 3 years. Of these:

1 required nursing or residential care (3 in 2019/20),

1 moved abroad to be closer to their family.

During the year 10 beneficiaries passed away, more than the 5 recorded in 2019/20, but not significantly different to the 9 that were recorded in each of the previous two years. It is believed that 3 of these 10 residents died with a diagnosis of Covid-19, but as each death followed an extended period in hospital it is likely that this virus was acquired after admission.

12 new residents (2019/20 – 14) were appointed to 9 properties (2019/20 – 12) as qualified beneficiaries. Of those:

6 properties were allocated to applicants previously living within the county of Rutland 1 property was allocated to an applicant who was relocating from elsewhere in the UK so as to be living closer to a family member, whilst 2 properties were allocated to individuals moving from out of the county for other reasons.

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

PRINCIPAL ACTIVITY – BENEFICIARIES & OCCUPANCY (continued)

The reasons for any beneficiary seeking accommodation can be complex and varied, but the primary reasons given in each of the 9 cases can be broken down as follows:

Applications Received during the year

During the year a total of 23 applications were received and processed (30 in 19/20). These applicants range from the oldest at 90 years to the youngest at 33 years of age.

The subject of the applications can be further broken down as follows:

Single females 11 Single males 8 Couples 4

Of the 23 applicants:

7 were rejected as failing to meet basic eligibility criteria, (age, wealth, etc) 5 withdrew their application before any offer of accommodation was made.

As stated above, the Charity was able to satisfy 9 applications during the past year; with there being 1 applicant still to be processed at the year end, and 2 applicants waiting to be offered accommodation (including 1 carried forward from 2019/20).

The Charity was also able to accept and meet the transfer request from 2 existing beneficiaries.

The Charity re-assesses the needs of all outstanding applications as and when any vacancy arises; the fact of being on the waiting list does not in itself amount to a promise of a future appointment.

• 2 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

PRINCIPAL ACTIVITY – BENEFICIARIES & OCCUPANCY (continued)

OCCUPANCY

The average occupancy rate across all properties has been impacted by the Covid-19 crisis experienced across all parts of our community. National lockdowns, reduced access to property services, and increased applicant evaluation periods are all likely to have contributed towards extended turnaround times for the voids that were experienced.

Similarly, the continued desire that the Charity use any available void period to undertake any significant work necessary improve the quality of the properties, a policy introduced in 2017, has remained the operational approach despite the problems listed above.

One other issue has also influenced void times, with various properties at Bonner House being required to remain empty for a number of months whilst steps were taken to replace the entrance into the building.

The void level target, as stated in the 2020/21 operational objectives (and thus that used as the basis of the 2020/21 budget) was 95%. The actual occupancy rate for the 2020/21 financial year, at 95.53% exceeded this target; given the Covid-19 challenges, the achieved occupancy stands up well against the rates recorded for the previous three years (96.4%, 95.4%, 95% respectively).

The average re-let time for a vacant property across the full year was 38.5 days (2019/20 65 days), with the number of re-lets as a percentage of stock being 15.68 %.

PRINCIPAL ACTIVITY – ALMSHOUSE PROPERTIES

During the year the portfolio consisted of 102 almshouse properties as follows:

South Street	41 properties	41 properties
		William Dalby House	11 fats
		David Royce House	23 fats
		Brooke Road	7 bungalows
St Anne’s Close	28	properties
Uppingham	33 properties
		Bonner House	12 fats
		Taylor House	12 fats
		Johnson Road	9 bungalows

In addition to the almshouse accommodation, the Charity also maintains a heritage asset, a 14th century Chapel at St Anne’s Close.

Since the end of the year an additional property has been added at William Dalby House by remodelling the former office accommodation.

• 7 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

ACHIEVEMENTS & FUTURE PLANS

Summary

The past year has been notable for the challenges that have been presented by the Covid-19 pandemic. The Charity is proud that throughout the entire twelve-month period an administrative and support function continued to be delivered out of its Mill House office location. In achieving this, Covid-19 compliant controls were maintained across all sites, and both the Charity and its beneficiaries can feel fortunate that we did not experience the type of disruption or infection rate witnessed elsewhere across the country.

On balance, the year in question can be considered to have been a successful one, with the Charity well placed to be able to face the challenging economic environment that is likely to confront both the Charity and the wider community during the coming year and beyond.

Buildings / Site Development:

During the year:

• Following the adoption of an improved property refurbishments specification in 2017, progress towards meeting these higher aspirations has continued throughout the year, as and when opportunity has presented itself, and given the restricted access to contractors and materials difficulties posed by multiple periods of national lockdown. Generally, the required work is disruptive, of the type that is not practical whilst the property is occupied, and undoubtedly extends the length of time a vacant property needs to be classified as a void.

Progress since the commencement of the programme is as follows, with the total number of completions to the improved specification as at the end of each financial year being:

2020/21	16	refurbishments completed
2019/20	12	refurbishments completed
2018/19	8	refurbishments completed
2017/18	4	refurbishments completed

As such the 2020/21 target of 4 units was achieved, despite the extremely difficult environment that existed for much of the year.

• The continuation of a programme to install level access showers into all properties continues, as vacancies permit. Currently 78/102 have been completed (76/102 - 2019/20). As such the target of 2 that was identified at the start of the year was achieved.

• The continuation of a programme of installing combi-boilers into properties, in order to better manage water safety (Legionellosis Risk Assessment report 2016). It should be noted that this approach is not appropriate for Taylor House (Uppingham) or William Dalby House (Oakham) as they are both supplied by communal boilers, and as such, the project will be completed on achieving 79 installations.

The total number of installations so far completed at the end of the financial year is: 2020/21 30/79 properties installed with a combi-system

• 7 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

2019/20 27/79 properties Installed with a combi-system 2018/19 20/79 properties installed with a combi-system 2017/18 07/79 properties installed with a combi-system

ACHIEVEMENTS & FUTURE PLANS (continued)

Thus, the number of installations this year were slightly below the original target, due to the Covid-19 situation. It is expected that the shortfall will be remedied during 2021/22.

• The programme of fully replacing the flooring within all upper flats at St Anne’s Close, a problem first accurately diagnosed in the last quinquennial inspection, continued with a further 2 properties being completed. Currently 5 out of 14 properties have so far received such attention.

• A tender process for the development of a new property on the site of what was the old SJSA office was completed, with work eventually commencing in early 2021.

• The planned appraisal of window frames, as outlined last year, was completed as part of a wider 2020 Stock Condition Survey undertaken by NCHA, which covered all 102 properties.

• Completion of the programme of installing AOVs (Automatic Opening Vents), as per the 2019 Fire Safety audit i.e. above the stairwells at both William Dalby House and Bonner House.

• Completion of an internal redecoration of David Royce House.

• The partial completion of a project to replace and upgrade lighting in the communal areas at St Anne’s Close.

• Following a spate of distraction burglary attempts, CCTV coverage was introduced at the Brooke Road site.

• The grounds at St Anne’s Close were re-modelled so as to both improve privacy and enhance the visual appeal of the site.

• That so much did get completed was itself an achievement, given the Covid-19 challenges, but some projects were unfortunately deferred. These included:

A significant amount of planned internal redecoration The upgrading of lighting at St Anne’s Close

Fire Safety improvements; Compartmentalisation work at David Royce House & Bonner House.

Planned for 2020/21:

• Continue to apply the accommodation standards identified in the 2016/17 Functional Suitability Study into refurbishment work as properties become vacant (target 4 per annum).

• 7 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

• Continue to implement the policy around accessibility standards / level access showers, as vacancies permit (target 2 per annum).

• To complete the development of an additional 2-bedroom property at William Dalby House.

• Complete the outstanding works on upgrading the lighting at St Anne’s Close, carried forward from 2020/21.

• Complete all works identified as being necessary in the 2019 Fire Risk Assessments / Compartmentalisation Survey, which has been delayed by the disruption caused by Covid19.

ACHIEVEMENTS & FUTURE PLANS (continued)

• Continue to replace the flooring at St Anne’s Close as properties become vacant (target 2 per annum).

• Continue with the programme of internal redecoration, focusing on St Anne’s Close (Common Room) and William Dalby House.

• Replace / rebuild the entrance area at Bonner House.

• Complete an options appraisal, for meeting the challenges associated with the 2025 digital switch-over, to enable a decision on the route to long-term service provision.

• Undertake a feasibility study on the installation of solar energy within SJSA properties, as part of a wider review of the possibility of moving towards the retro-fitting of “green / environmentally friendly” improvements.

The condition of all properties falling vacant will continue to be addressed before re-letting.

Property Maintenance and Estates Management:

A complete Property Maintenance and Estates Management service is currently provided under contract by Nottingham Community Housing Association (NCHA). The effectiveness of this approach in the delivery of a responsive, value for money, service for the beneficiaries, is reviewed annually by the Governors.

The Key Performance Indicators for 2020/21 show that the total number of NCHA administered jobs was 630, a 3% increase on the previous year.

The table below provides details of the type and value of the jobs undertaken, as well as the performance against the agreed response time standards. The Charity has in recent years expressed concern that the percentage of jobs being completed within the agreed timescales has been on the decline, and so it is pleased to see a positive improvement being reported, particularly given the potential for disruption that has been brought by the Covid-19 pandemic.

Number, Cost and Category of NCHA Repair requests 2020/21

• 7 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

ACHIEVEMENTS & FUTURE PLANS (continued)

The appointment by SJSA of a Property Services Manager in early 2019 has enabled the Charity to have greater involvement in the management of resident expectations in respect of the repairs service, and to maintain a closer overview of the services that are being delivered. A significant sample of responsive repair jobs were individually followed up (72%), which recorded a 91% satisfaction rate from the beneficiary receiving the service.

Also, and for the first time, the Charity has been able to measure those responsive repair jobs which for a variety of reasons were not processed through NCHA:

Non-NCHA managed Responsive Repairs: 80 % completed on time: 100%

The Residents Satisfaction Survey conducted in March 2021 provides possibly the clearest evidence of improvement within the delivery of a responsive repairs service. The recorded satisfaction level at 94% compares well against the 79% recorded in the previous survey of 2019.

Support Services:

In addition to the provision of housing and property maintenance, the Charity holds the belief that in delivering its strategic objective no 2 , to enable beneficiaries to lead “independent lives for as long as possible” it is important that consideration be given to meeting their various and individual support needs.

In response to national and local changes to both the funding and delivery of health and social services, the Charity has in recent years continued to consider it appropriate that it should increase its own efforts to deliver effective housing-related support. Over the past twelve months, with all beneficiaries either “shielding”, “social distancing”, or “in lockdown” this has proven to be the correct approach. The Charity is proud that it delivered a support service that remained accessible for urgent and emergency situations throughout the year, and one where a daily presence at the Mill House office was maintained throughout.

At the current time SJSA support services are primarily through:

1. Tele-Support

2. 7 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT

FOR THE YEAR ENDED 6 APRIL 2021

All properties are covered by a Community Lifeline service delivered by Harborough Borough Council (Harborough Lifeline), and which is fully funded by SJSA, regardless of the financial situation of the individual beneficiary.

During the year Harborough Lifeline handled a total of 5763 SJSA generated calls (5672 in 2019/20), which including 142 service requests from individual residents. This traffic included 14 health / fall type emergency calls (42 in 2019/20). By far the greatest number of calls are generated by the door entry monitoring system.

The response times for all calls are monitored and reported on annually, and can be measured against the Quality Standards Framework requirements, as published by TSA (previously Telecare Services Association).

95.38% answered within 60 seconds (97.27% - 2019/20) 99.10% answered within 180 seconds (99.74% - 2019/20)

• 7 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

ACHIEVEMENTS & FUTURE PLANS (continued)

The slight decline in average response time can in part be attributed to work being undertaken by Harborough Lifeline, necessary to upgrade their equipment, and is also a consequence of their staffing challenges during the Covid-19 pandemic. Overall, these reported response times give assurance that our beneficiaries receive an effective and efficient service from Harborough Lifeline.

In addition to the reactive type tele-support provision detailed above, each beneficiary is also offered the option to use a pro-active service provided by Alertacall, commonly known within SJSA as the Okay-each-day service.

During 2020/21 the average number of beneficiaries who took up this service was 85/102 (2019/20 – 86). During the year there were 86 occasions when the service contacted a named responder due to an individual not logging in. In addition, there were 13 occasions when this service initiated a repair request on behalf of a resident.

The Alertacall service also enables information messages to be delivered telephonically to groups of beneficiaries. This has proven to be particularly valuable during Covid-19 lock down periods. In total 40 different messages have been delivered, including 9 that were classified as urgent / emergency (e.g. advising that a distraction burglary had been reported in the immediate area).

The Resident Survey conducted in March 2021 would suggest that both services are well regarded by those who use them, with 100% of residents appreciating the Lifeline service (100% - 2019), and 91% the Alertacall service (87% - 2019).

2. Personal support

The Charity is conscious of the role that effective housing related support has in enabling beneficiaries to continue to live independent lives. As such SJSA employs a full time Support Worker in order to better meet the needs of the resident group.

Although accessible by all, traditionally the Support Worker resource has been focussed on the frailest 20% of our population. In this there was a significant change witnessed during 2020/21 as SJSA responded to the increased demands generated by the Covid-19 pandemic.

More contacts were made to significantly more beneficiaries, some requiring the adoption of new approaches, as the Charity attempted to offer adequate support to all. This did include deploying other staff to the task, including involvement of a group of Governors who were willing and able to volunteer their time.

Aside from the support provided during the Covid-19 outbreak the work of the Support Worker has over the past twelve months successfully delivered 25 benefits reviews (25 in 2019/20), 15 Blue Badge applications (17 in 2019/20), 12 OT referrals (12 in 2019/20), 13 Social Services referrals.

The SJSA support service was successful in assisting 10 different beneficiaries to claim a total of £92,500 in new “benefit income” during the year. Whilst this did not match the £220,000 obtained for 25 beneficiaries in 2019/20, it continues to demonstrate the positive outcome achievable from active housing support.

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

ACHIEVEMENTS & FUTURE PLANS (continued)

Benefciary involvement:

The Charity remains firm in its desire to consider the wishes and opinions of its beneficiaries, particularly in those decisions that directly impact on their day-to-day living. However, due to the various Covid-19 related restrictions contact and consultation with beneficiaries has proven to be challenging, with most of the usual methods not available at all during the past year. Some limited success has been achieved through:

• The increased publication of the Jigsaw ; the residents’ newsletter, that is normally published quarterly, but saw this doubled to 8 issues during 2020/21.

• In June 2020 the Charity, for the first time, produced a detailed annual report specifically intended to inform its beneficiaries. Following positive feedback it is now anticipated that this exercise will be repeated in future years.

• In March 2021 the Charity commissioned an independently conducted Resident Satisfaction Survey. Once the findings are published, the detail within the survey will be compared to that undertaken in 2019 and will be used to guide the future development of services in the coming years.

• All beneficiaries continue to be contacted at least annually by a Governor, who will then follow up with a personal visit when required. Due to the particular difficulties of the past 12 months Governors have made a conscious effort to contact each beneficiary at least twice, and in most cases three times during the year.

Recognition & Communication:

The Charity is also conscious of the need to raise awareness within the wider community, and to contribute to the wellbeing of the community beyond the immediate beneficiary group. During the past twelve months this has been achieved by :

• The Charity is a member of The Almshouse Association

• The Charity is also a member of SPBM (Smaller Housing Providers Benchmarking Group).

• As part of its desire to raise awareness within the wider community, and to support other organisations that share our objectives, the Charity has made its resources available to a range of external organisations. Whilst these groups have themselves generally been unable to meet due to the Covid-19 pandemic, SJSA has continues to work with: Age UK (Carers Support Group, Veterans group, Mostly Men Club), Oakham Walking Group, Co-op Ladies Group, Uppingham Local History Society, The Trefoil Guild, and the Baptist Church Sunday School.

• The Charity continues to work cooperatively with Rutland County Council in order to ensure that our partnership arrangements work effectively.

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

VALUE FOR MONEY STATEMENT 2020-21

The format of this year’s statement reflects the publication in April 2018 of the Regulator of Social Housing’s Value for Money Standard for Registered Providers.

----- Start of picture text -----
Metrics specified by the regulator Outcome Outcome
2020/21 2019/20
Metric 1: Reinvestment % 1.5% 4.7%
Metric 2a: New Supply (Social Housing NIL NIL
Units) %
Metric 2b: New Supply (Non-Social Housing NIL NIL
Units) %
Metric 3: Gearing % (2.19%) (1.09%)
Metric 4: EBITDA (Major Repairs Included) 1,456% 1,302%
Interest Cover %
Metric 5: Headline Social Housing Cost per £6,902 £7,297
Unit
Metric 6A: Operating Margin (social housing (3.7%) (12.6%)
lettings only) %
Metric6B: Operating Margin (overall) % 8.9% 8.1%
Metric 7: Return on Capital Employed % 0.6% 0.4%
----- End of picture text -----

In the spring of 2020 the Charity joined SPBM, with the intention of utilising its benchmarking capabilities to provide meaningful comparators in future years. However, at the current time comparison can only be made with the VFM figures stated in the Annual Report of the previous year. Detailed throughout this report are a number of performance metrics that are currently of relevance to this Charity, and which combined help demonstrate the value being achieved yearon-year by St John & St Anne.

FINANCIAL REVIEW

In the year to 6 April 2021 the Charity’s finances benefited from a positive outcome on net incoming resources, of some £70,000 (2020: £39,000) and from a gain on investment valuations of some £1,010,000 (2020: loss £444,000). As a result, balance sheet total funds have increased to some £11.5 million (2020: £10.5 million), within which cash and cash-equivalents comprise some £0.9 million (2020: £0.8 million).

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

Investments and investment performance are dealt with in more detail below.

Much of the Charity’s expenditure on operational properties is now accounted for as additions to fixed assets. These amounted to a little over £121,000 in the year (2020: £360,000). These costs and plans for future years are significantly affected by the Governors’ strategic decision not simply to replace operational property assets on a like-for-like basis as and when they reach the end of their economically useful lives, but to focus on any available improvements better suited to the Charity’s objective of providing accommodation suitable for residents to live independently for as long as possible. The Governors’ approach to financing these costs and plans is dealt with further below in the paragraphs on Reserves and Reserves Policy.

FINANCIAL REVIEW (continued)

Investments and investment performance

The Charity holds investments on account of Permanent Endowment, Restricted and Designated Funds, the investments being spread over farmland, listed investments and cash.

The investment management objectives are that:

• the Charity should, over the long term, receive regular investment income sufficient to ensure that it can continue its charitable activities at least at their present level and with full attention to the need for maintenance and repair of operational properties;

• the Charity should maintain sufficient liquidity in its investment and cash assets to be confident at any one time of meeting its cash flow needs for the subsequent year;

• whilst pursuing these income and liquidity objectives, management of the Charity’s investments should, so far as possible, maintain or enhance the value of the Charity’s permanent endowment and other investments.

In pursuing the above objectives, the Charity maintains a direct investment in farmland; maintains assets in deposit-based and equity-based investments (managed by CCLA) in respect of Restricted and Designated Reserves; and has arranged for the permanent endowment listed investment portfolio to be managed on a discretionary basis by Smith & Williamson Investment Managers, within a framework of ethical investment criteria (adopted from those published for the Church of England) and a willingness to be exposed to a medium level of market risk.

In relation to the investment income objective and the portfolio managed by Smith & Williamson, the Governors set a target of £100,000 before fees for investment income in the year. Income received of £105,446 (2020: £123,451) exceeded this target. Together with farmland and other investment income, total investment income was £115,019 (2020: £136,018) before investment management costs of £23,081 (2020: £21,944).

In relation to the liquidity objective there was no call during the year to sell or re-allocate investments in order to make an extra contribution to liquidity needs.

As to the objective relating to capital values, at 6 April 2021 the balance sheet total for investments was £5,994,434 (2020: £4,972,075). The large majority of this value is in assets which are independently valued at the year end; for one category of investment – the farmland – the Governors’ practice is to obtain a professional valuation every three years; such a valuation was obtained in 2019 and the Governors consider that it remains appropriate.

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

Reserves and Reserves Policy

At the year end the total funds held by the Charity were some £11.56 million, made up of:

£ million Endowment funds 10.36 Restricted funds 0.38 Unrestricted designated funds 0.42 Unrestricted general funds 0.40 11.56

FINANCIAL REVIEW (continued)

Reserves and Reserves Policy (continued)

The Endowment funds are the permanent capital of the Charity. On the asset side of the balance sheet, they are represented by:

• Operational properties held for the long term;

• Investments, the income from which is available to subsidise operating costs, but the capital value of which is not expendable except with the consent of the Charity Commission.

The Restricted funds are also not available for expenditure. Formally they represent a Recoupment Fund set up in two stages, firstly when the Charity expended capital towards the cost of the South Street, Oakham, flats in 1976, and secondly when capital was expended on the first development at Uppingham in 1980. In both cases, the Charity was required by the Charity Commission to set aside an annual sum of £602 over sixty years to recoup this capital. When that term expires, the capital of the recoupment fund will be added to the Permanent Endowment investments.

By contrast, Unrestricted funds are available for expenditure at Governors’ discretion in pursuit of the Charity’s purposes. Within this category there are two sub-categories – one where the Governors have ‘designated’ or earmarked funds for one or more particular future purposes, and General funds which have not been so ear-marked.

At the year end the Designated funds of £419,676 comprised an Extraordinary Repairs Reserve of £358,080 and a Cyclical Maintenance Reserve of £61,596.

The Extraordinary Repairs Reserve is used to enable major property expenditure to be planned over a 5-year timescale, having regard to any need for funding above the level of cashflow generated by almshouse operations and investment income. Based on this approach a transfer of £10,251 has been made in these accounts from the Extraordinary Repairs Reserve to the General Reserve (2020 £181,655), leaving a balance of £358,080 (2020 £368,331) which suffices, but is not excessive, having regard to current plans for the next 5 years.

A second designated reserve (for Cyclical Maintenance) is maintained to fund lesser, periodic, planned repairs and maintenance and is funded by an annual transfer from the income of the Charity. Expenditure in the year of £96,519 (2020 - £84,396) was less than the annual transfer of £102,286 (2020 - £99,012) and the balance therefore increased to £61,596 (2020 - £55,829 ) .

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

FINANCIAL REVIEW (continued)

Reserves and Reserves Policy (continued)

The General Unrestricted funds represent the accumulated balance to date of the income of the Charity after meeting all almshouse, management and other running costs and transfers to the Cyclical Maintenance and Extraordinary Repair reserves. In common with other charities, the Charity needs to maintain a balance on such General Reserves in order to ensure that, in the event of any abrupt or unforeseen worsening in the Charity’s operating finances, the Charity can continue its activities for a sufficient period of time to be able to recover and/or find a new basis of financing its activities. The relevant annual cost for the Charity is now running at a level of approximately £0.6 million p.a. (total resources expended excluding depreciation which is not a ‘cash cost’); the Unrestricted General Reserve at 6 April 2021 (£398,170) therefore suffices for some 8 months’ operating ‘cash costs’. The Governors consider that this is appropriate in current circumstances (see further below in relation to Covid-19).

Risk management

The Covid-19 pandemic presents the Charity with both direct and indirect risks; the Governors are taking as much care as possible to minimise the impact of these risks on the Charity’s beneficiaries and in the Charity’s finances. To date the efforts involved have been successful and Governors are grateful to the Clerk and other staff and to the residents for what they have done and continue to do. The Governors consider that the policy described above in respect of the financial General Reserve is adequate to meet the risks as currently assessed.

As to other risks, the Governors assess from time to time the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to these. These risks relate to:

• (i) providing and maintaining a safe and secure environment for our residents and for others who work at or visit the Charity’s premises;

• (ii) providing and maintaining governance, financial and administrative arrangements to safeguard the Charity’s assets, to promote its long-term health and to facilitate its operational activities.

The Charity’s main strategy to address these risks is (i) to review from time to time the particular areas where such risks may be either most likely to arise or where their impact would be most serious and to devise and implement particular mitigation plans as appropriate in the

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

light of such review; and (ii) at all times and on a continuous basis to keep under review, and to report to Governors, any work necessary to ensure that the Charity’s properties provide a safe and secure environment.

In addition Governors are conscious that the scale and smooth running of the Charity’s operations depends to a considerable extent upon governmental regimes, systems and services. Some aspects of the future of these are subject to significant uncertainty. Governors seek to minimise the risks to the Charity from such uncertainty by keeping abreast of relevant developments (in particular through The Almshouse Association) and by regular review, particularly at the time of annual budgeting.

Statement of Governors’ responsibilities

The Governors are responsible for preparing the Governors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.

In preparing these accounts, the Governors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Governors are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing instruments. They are also responsible for

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

GOVERNORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Governors' report was approved by the Governing Body on 9 July 2021.

D Pattinson J Orme Governor Governor

• 12 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

INDEPENDENT AUDITOR'S REPORT

TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

We have audited the financial statements of The Hospital of St John the Evangelist and of St Anne in Okeham for the year ended 6 April 2021, which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable to the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the accounts:

• give a true and fair view of the state of the Charity’s affairs as at 6 April 2021 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with the United Kingdom Generally Accepted Accounting Practice; and

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Governors with respect to going concern are described in th l t ti f thi t

Other information

The Governors are responsible for the other information. The other information comprises the information included in the Governors’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the Governors’ report; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

• 19 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

Responsibilities of Governors

As explained more fully in the Governors’ responsibilities statement set out on page 18, the Governors are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Governors are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

• Assessing whether the judgements made in accounting estimates are indicative of a potential bias;

• • Evaluating the rationale of any significant transactions that are unusual or outside the normal course of business;

• Analytical procedures are performed as well as substantive testing to identify any potential misstatement due to fraud; and

• The audit procedures would also involve being aware of any such items from reviewing minutes and third party communications and reports and discussions held with staff and management to obtain an understanding.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A f h d i i f ibili i f h di f h fi i l i l d h

• 20 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

Use of our report

This report is made solely to the Charity’s Governors, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Governors those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Governors as a body, for our audit work, for this report, or for the opinions we have formed.

Stephenson Smart & Co

.........................

Chartered Accountants Statutory Auditor

36 Tyndall Court Commerce Road Lynchwood Peterborough Cambridgeshire PE2 6LR

Stephenson Smart & Co is eligible to act as an auditor in terms of section 1212 of the Companies Act

• 20 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 6 APRIL 2021

		**Unrestrict Restricted **	**Unrestrict Restricted **	Permanen	Total	Total
		funds	**funds **	endowme	2021	2020
				funds
	Notes	£	£	£	£	£
Income and endowments from:
Charitable activities	3	656,179	-	-	656,179	660,795
Investments	4	115,019	-	-	115,019	136,018
Other income	5	3,550	22,500	-	26,050	3,073
Donations and legacies	6	-	-	-	-	5,240
Total income and endowments		774,748	22,500	-	797,248	805,126
Expenditure on:
Charitable activities	7	550,485	-	153,4	703,954	744,259
Investment management	8	23,081	-	-	23,081	21,944
Total resources expended		573,566	_- _	153,4	727,035	766,203
Net incoming/(outgoing) resources		201,182	22,500	(153,469)	70,213	38,923
before transfers and gains/
on investments
Net gains/(losses) on
investments		-	74,236	935,891	1,010,127	(443,526)
Net incoming/(outgoing)		201,182	96,736	782,422	1,080,340	(404,603)
resources before transfers
Gross transfers between		(83,680)	(21,898)	105,578	-	-
Net movement in funds		117,502	74,838	888,000	1,080,340	(404,603)
Fund balances at 7 April 2020		700,344	310,612	9,476,495	10,487,451	10,892,054
Fund balances at 6 April		817,846	385,450	10,364,495	11,567,791	10,487,451

• 22 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

BALANCE SHEET

AS AT 6 APRIL 2021

2021 Notes £ £ Fixed assets Tangible assets 12 5,444,661 Investments 13 5,994,434 11,439,095 Current assets Debtors 15 53,876 Cash at bank and in hand 406,446 460,322 Creditors: amounts falling due within one year 16 (108,479_) Net current assets 351,843 Total assets less current liabilities 11,790,938 Creditors: amounts falling due after more than one year 17 (223,147) Net assets 11,567,791 Capital funds Unrestricted funds - general 398,170 Unrestricted funds - designated 21 419,676 Total unrestricted funds 817,846 Endowment funds 22 10,364,495 _Including revaluation reserve of £1,937,885 (2020: Restricted funds 23 385,450 Including revaluation reserve of £273,761 (2020: £199,526) 11,567,791

2020 £ £ 5,479,969 4,972,075 10,452,044 20,786 307,501 328,287 (79,942) 248,345 10,700,389 (212,938) 10,487,451 276,184 424,160 700,344 9,476,495 310,612 10,487,451

The financial statements were approved by the Governing Body and authorised for issue on 9 July 2021 and are signed on its behalf by:

D Pattinson J Orme Governor Governor

• 23 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

BALANCE SHEET

AS AT 6 APRIL 2021

• 23 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 6 APRIL 2021

		2021		2020
	Notes	£	£	£	£
Cash fow from operating	(i)		142,522		70,625
Cash fow from investing activities
Purchase of tangible fxed assets		(121,43		(360,273)
Investment purchases and disposals	(ii)	3,057		344,08
Interest income		595		3,612
Investment income (net of investment		91,9
management costs)		38		114,074
Net cash fow from investing		(25,845)			101,500
Cash fow from fnancing activities
Repayment of bank loans		(11,815)		(11,295)
Drawdown of loan		25,00		-
Interest paid		(15,628)		(16,526)
Net cash fow from fnancing			(2,443)		(27,821)
Net increase in cash and cash			114,23		144,304
Cash and cash equivalents at beginning of		811,767		667,463
Cash and cash equivalents at end of year		926,001		811,767
Cash and cash equivalents
Bank balances and short term deposits		406,446		307,501
Investment cash balances		519,555		504,266
Cash and cash equivalents at end of year		926,001		811,767

• 24 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 6 APRIL 2021

		2021	2020
	Notes	£	£
Note (i) – Reconciliation of net income/
(expenditure) to net cash fow from operating
activities
Net incoming/(outgoing) resources		70,213	38,923
Adjustments for:
Investment income recognised in statement of
fnancial activities		(115,019)	(136,018)
Investment management costs		23,081	21,944
Depreciation and loss on disposal of tangible fxed	(iii)	156,743	172,654
Interest payable		15,628	16,526
Interest received		(595)	(3,612)
Decrease/(Increase) in debtors		(33,090)	72
(Decrease)/Increase in creditors		25,56	(40,514)
Net cash fow from operating activities		142,52	70,625
Note (ii) - Investment purchases and disposals
Purchase of other investments		(698,625)	(537,469)
Proceeds on disposal of other investments		701,682	881,556
		3,057	344,08
Note (iii) - Depreciation and impairment of
tangible fxed assets
Depreciation and impairment of tangible fxed assets		155,745	146,529
Loss on disposal of tangible fxed assets		998	26,125
		156,743	172,654
Analysis of changes in net debt
	Balance at	Other	Balance at
7	April 2020	Cash non-cash	6 April 2021
		fows movements
	£	£ £	£
Cash	307,50		406,44
Loans due within one year	(11,747)	(2,976)	(14,723)
Loans due after one year	(212,938)	(10,209)	(223,147)
	82,8	85,760	168,5

• 25 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 6 APRIL 2021

• 25 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 APRIL 2021

1 Accounting policies

Charity information

The Hospital of St John the Evangelist and of St Anne in Okeham is a Registered Charity and Registered Social Housing Provider that is primarily an endowed Almshouse Charity.

1.1 Accounting convention

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued on October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The Charity is a Registered Social Housing Provider. In accordance with the requirements of the Housing SORP, the Charity has applied the Charities SORP in the preparation of these financial The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has

The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention as modified by the revaluation of investments. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the accounts, the Governors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Governors continue to adopt the going concern basis of accounting in preparing the

1.3 Charitable funds

Unrestricted funds

General funds

Unrestricted funds are available for use at the discretion of the Governors in furtherance of their charitable objectives unless the funds have been designated for other purposes.

• 26 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

1 Accounting policies (continued)

1.3 Charitable funds (continued)

Unrestricted funds (continued)

Designated funds

The following unrestricted funds have been designated at the discretion of the Governors for specific purposes as follows:

Extraordinary repair fund

The extraordinary repair fund has been set up to fund large scale repairs, renovations and improvements which occur from time to time.

Cyclical maintenance fund

The cyclical maintenance fund has been set up to fund periodic, non annual, repairs and maintenance and is funded by an annual transfer based on The Almshouse Association guideline figures

Restricted fund

Recoupment fund

The Recoupment fund was set up in two stages, firstly when the Charity expended capital towards the cost of the South Street, Oakham flats in 1976, and secondly when capital was expended on the first development at Uppingham in 1980. In both cases, the Charity was required by the Charity Commission to set aside an annual sum over sixty years to recoup this capital. When that term expires, the balance on the Reserve will be transferred to the credit of Permanent Endowment and the assets held on account of the reserve transferred to Fixed

Ofce conversion project

This fund relates to Social Housing Grant awarded to facilitate the development and provision of Affordable Housing. The use of the grant is restricted to the delivery of affordable dwellings pursuant to Homes England’s Shared Ownership Affordable Homes Programme 2016-2021.

Permanent endowment funds

Permanent endowment funds represent the capital of the Charity and are invested in operational properties (i.e. almshouse residential properties), farmland, listed investments and cash. This capital is not expendable but the income generated represents unrestricted income.

1.4 Incoming resources

Income is recognised when the Charity is legally entitled to it.

All residents' weekly maintenance contributions are recognised when due and investment income is recognised when receivable.

1.5 Resources expended

Expenditure is recognised when a legal or constructive obligation has fallen due.

All expenditure is accounted for on an accruals basis. All expenses including governance costs are allocated or apportioned to the applicable expenditure headings. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

• 27 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

1 Accounting policies (continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Freehold land and housing properties

Freehold land is not depreciated. Depreciation is charged so as to write down the cost of freehold housing properties to their estimated residual value on a straight line basis over their estimated useful economic lives at the following annual rates:

Main fabric of buildings Over 100 years Mechanical installations Over 30 years Roof Over 70 years Electrical installations Over 40 years Windows and external doors Over 30 years Lifts Over 20 years Gas boilers Over 15 years Kitchens Over 20 years Fire alarms and lifelineOver 20 years Buggy store Over 30 years equipment Over 30 years Access ramps/steps Over 30 years Bathrooms

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities for the year.

Furnishings and equipment

Furnishings and equipment are stated at cost less accumulated depreciation. Depreciation is provided to write off the cost of assets over their expected economic useful lives on a straight line basis of either 10% or 25%.

Social Housing Grant

The Charity is currently redeveloping unused office space into an additional two bedroom flat.

Where developments have been financed wholly or partly by Social Housing Grant (SHG), the amounts of the grants received are recognised as incoming resources using the performance model. On the sale of a property, or if another relevant event takes place, SHG may become repayable, although it is normally available to be recycled and used for a new Social Housing project approved by the Homes & Communities Agency. The cumulative amount of Social

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net incoming/(outgoing) resources for the year.

1.8 Impairment of fixed assets

At each reporting end date, the Governors review the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

• 28 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

1 Accounting policies (continued)

1.8 Impairment of fixed assets (continued)

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been d t i d h d i i t l b i d f th t i i A l f

1.9 Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses) on investments’ in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably. Other

• 1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, bank overdrafts and cash held as fixed asset investments. Bank overdrafts are shown within borrowings in current

1.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method and fixed asset investments which are recognised and subsequently measured in accordance with the

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide

1.13 Value added tax

The Charity is unable to reclaim any Value Added Tax (VAT) it incurs on its expenditure. This irrecoverable tax is a cost to the Charity and consequently all figures within these financial statements are stated inclusive of any VAT incurred (unless stated otherwise).

1.14 Business combinations

Where acquisitions are in substance the gifting of control of a business to the Charity the combination is treated as a non-exchange transaction and the fair value of the gifted assets and liabilities in the transaction is recorded as a gain or loss in the statement of financial

• 29 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

• 29 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2021

1 Accounting policies (continued)

1.15Operating leases

Rentals applicable to operating leases where subsequently all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities.

1.16Major repair costs

The Charity capitalises expenditure on housing properties which results in an enhancement of the economic benefit of the asset such as an increase in the net rental stream over the life of the property. An increase in the net rental stream may arise through an increase in net rental income, a reduction in future maintenance costs, or a significant extension of the useful life of the property.

Expenditure on works which does not meet this criteria is written off to the Statement of Financial Activities in the year in which it is incurred. This includes expenditure incurred to ensure that the property can maintain its existing level of net rental income or the standard of

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the i i ff b h d f i d

3 Charitable activities

	2021	2020
	£	£
Provision of almshouses - residents' weekly maintenance contributions	656,179	660,795
Investments
	2021	2020
	£	£
Rental income	8,978	8,955
Income from listed investments	105,446	123,451
Interest receivable	595	3,612
	115,019	136,018

4 Investments

• 30 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

5 Other income Common room lets Sundry site receipts Grant received – Covid-19 Performance related grant Analysis by fund Unrestricted funds Restricted funds 6 Donations and legacies Donations and gifts	2021 £ - 1,569 1,981 22,500 26,050 3,550 22,500 26,050 2021 £ -	2020 £ 1,050 2,023 - - 3,073 3,073 -
		3,073
		2020 £ 5,240

• 31 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

7 Charitable activities

Staf costs Depreciation and loss on disposal of fxed Day to day maintenance Cyclical maintenance Utilities Window cleaning and materials Support worker expenses Alertacall Charitable beneft Landscaping Buildings and contents insurance Management Door entry system Void properties Governance costs (see note 9) Analysis by fund Unrestricted funds Endowment funds Investment management costs Investment management	Provision of 2021 2020 £ £ 180,703 165,180 156,743 172,654 84,324 121,748 96,519 84,396 31,685 28,886 1,893 1,470 540 529 15,094 16,848 35,036 39,199 23,969 23,969 7,726 7,482 35,185 46,685 11,343 11,340 1,494 1,127 682,254 721,513 21,700 22,746 703,954 744,259 550,485 153,469 703,954 2021 2020 £ £ 23,081 21,944 23,081 21,944	Provision of 2021 2020 £ £ 180,703 165,180 156,743 172,654 84,324 121,748 96,519 84,396 31,685 28,886 1,893 1,470 540 529 15,094 16,848 35,036 39,199 23,969 23,969 7,726 7,482 35,185 46,685 11,343 11,340 1,494 1,127 682,254 721,513 21,700 22,746 703,954 744,259 550,485 153,469 703,954 2021 2020 £ £ 23,081 21,944 23,081 21,944
		2020 £ 21,944
		21,944

8 Investment management costs

• 32 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

9 Support costs

Support costs
	Governanc	2021	2020	Basis of allocation
	e costs
	£	£	£
Audit fees	6,072	6,072	6,220	100% charitable activities
Interest payable	15,628	15,628	16,526	100% charitable activities
	21,700	21,700	22,746

10 Governors

None of the Governors (or any persons connected with them) received any remuneration from the Charity during the year. One Governor was reimbursed a total of £43 for travelling expenses (2020: £129).

• 33 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

11 Employees

Number of employees

The average monthly number of persons employed by the Charity during the year was:

	2021	2020
	Number	Number
Clerk	1	1
Administration Assistant	1	1
Property Services Manager	1	1
Finance Ofcer	1	1
Residents' Support Worker	1	1
Housekeeper	1	1
	6	6
Employment costs	2021	2020
	£	£
Wages and salaries	157,726	144,112
Social security costs	10,466	9,204
Other pension costs	12,511	11,8
	180,703	165,180
Remuneration of key management personnel
The remuneration of key management personnel is as follows:
	2021	2020
	£	£
Remuneration benefts for the Clerk to the Charity	52,095	46,388

There were no employees whose annual remuneration was £60,000 or more.

• 34 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

12	Tangible fxed assets
		Land and	Fixture,	Total
		buildings	fttings and
			equipment
		£	£	£
	Cost
	At 7 April 2020	7,589,443	64,449	7,653,892
	Additions	118,799	2,636	121,435
	Disposals	(15,918)	(896)	(16,814)
	At 6 April 2021	7,692,324	66,189	7,758,513
	Depreciation and impairment
	At 7 April 2020	2,122,100	51,823	2,173,923
	Depreciation charged in the year	152,471	3,274	155,745
	Depreciation on disposals	(14,920)	(896)	(15,816)
	At 6 April 2021	2,259,651	54,201	2,313,852
	Carrying amount
	At 6 April 2021	5,432,673	11,988	5,444,661
	At 6 April 2020	5,467,343	12,626	5,479,969

• 35 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

13 Fixed asset investments

Fixed asset investments
	2021	2020
	£	£
Listed investments	4,819,879	3,812,809
Farmland	655,000	655,000
Cash and cash equivalents:
- Investment management deposit account	80,262	76,640
- COIF deposit account - Extraordinary repair fund	358,079	370,383
- COIF deposit account - Cyclical maintenance fund	81,214	57,243
	5,994,434	4,972,075

The farmland was valued in March 2019 by Richardson Chartered Surveyors an independent professional valuer. The Governors are of the opinion that this revaluation continues to reflect the fair value of the farmland at 6 April 2021.

The listed investments are valued at market value. The Governors consider variability of investment returns on the permanent endowment to constitute the Charity’s major financial risk. This is mitigated by retaining expert investment managers and having a diversified investment

Movements in fixed asset investments

Cost or valuation At 7 April 2020 Additions Valuation changes Disposals At 6 April 2021 Carrying amount At 6 April 2021 At 6 April 2020	Cash Shares Farmland Total £ £ £ £ 504,266 3,812,809 655,000 4,972,075 15,289 698,6 - 713,914 - 872,75 - 872,75 (564,309) - (564,309) 519,555 4,819,879 655,000 5,994,434 519,555 4,819,879 655,000 5,994,434 504,266 3,812,809 655,000 4,972,075

The gain on investment disposals during the year based on historic cost was £129,468 (2020: £333,984).

• 36 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

14	Financial instruments	2021	2020
		£	£
	Carrying amount of fnancial assets
	Equity instruments measured at fair value less impairment	4,819,879	3,812,809
		4,819,879	3,812,809
	Carrying amount of fnancial liabilities
	Loans measured at amortised cost	237,870	224,685

Financial assets pledged as collateral

The loans are secured and some carry a variable rate of interest as described in note 18.

The interest payments on these loans are therefore susceptible to changes in interest rates. The Governors acknowledge these risks, though they also acknowledge that the financial impact of any increases in interest rates will be mitigated by corresponding increases in the performance of their fixed asset investments.

15 Debtors Amounts falling due within one Other debtors Prepayments and accrued income 16 Creditors: amounts falling due within one year Notes Loans and overdrafts 18 Trade creditors Other creditors Accruals and deferred income 17 Creditors: amounts falling due after more than Notes Loans and overdrafts 18	2021 £ 35,463 18,413 53,876 2021 £ 14,723 63,477 14,574 15,705 108,479 2021 £ 223,147	2020 £ 1,858 18,928
		20,786
		2020 £ 11,747 39,624 11,001 17,570
		79,942
		2020 £ 212,938

• 37 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

18 Loans and overdrafts Long term housing loans Payable within one year Payable after one year Amounts included above which fall due after fve years: Payable by instalments	2021 £ 237,870 14,723 223,147 161,047	2020 £ 224,685
		11,747 212,938
		162,788

The long-term housing loans are secured by specific charges on the Charity's housing properties.

The Charity has loan facilities with the Norwich and Peterborough Building Society and Rutland

There are two loans with Rutland County Council. One is a fixed rate loan which is repayable at a rate of 12% per annum, the other has a fixed annual capital repayment with interest calculated at prevailing local government rates.

The remaining loan with the Norwich and Peterborough Building Society is repayable at a variable interest rate based on LIBOR plus a margin of 1.25%, subject to a minimum interest rate of 4.2%.

The two loans outstanding with Rutland County Council totalling £112,955 (2020: £114,273) are due to be fully repaid in 2048 and 2052 respectively. The loan of £99,915 (2020: £110,412)

During the current year a loan of £25,000 was received from The Almshouse Association. The loan is interest free and unsecured. The loan is repayable over 10 years and repaid in six monthly instalments.

19 Lease Commitments

The future minimum operating lease payments are as follows: Within one year Between one and two years Between two and fve years	2021 £ 15,000 15,000 25,000 55,000	2020 £ 15,000 15,000 40,000
		70,000

• 38 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

20	Analysis of net assets between funds	Analysis of net assets between funds
		Unrestricte	Designated	Restricted		Endowment		Total
		d funds	funds		funds		funds
		£	£		£		£	£
	Fund balances at 6 April
	2021 are represented by:
	Tangible fxed assets	11,988	-		-		5,432,673	5,444,661
	Investments	19,616	419,676		385,450		5,169,692	5,994,434
	Current assets/(liabilities)	366,566	-		-		(14,723)	351,843
	Creditors due after one year	-	-		-		(223,147)	(223,147)
		398,170	419,676		385,450		10,364,495	11,567,791
21	Designated funds
				Balance at			Transfers	Balance at
					7 April		6	April 2021
					2020
					£		£	£
	Cyclical maintenance fund				55,829		5,767	61,596
	Extraordinary repairs fund				368,331		(10,251	358,080
					424,160		(4,484)	419,676
22	Endowment funds
		Balance	Depreciation
		at	and loss on				Revaluation	Balance at
		7 April	disposal of				s gains and	6 April
		2020	land and		Transfers		losses	2021
		£	£			£	£	£
	Permanent endowment	9,476,495	(153,469)		105,578		935,89110,364,495

Transfers from general funds of £83,078 include additions to land and buildings, a loan from The Almshouse Association and loan capital repaid during the year. Transfers from restricted funds of £22,500 include a capital grant.

• 38 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

• 38 -

THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 6 APRIL 2021

23 Restricted funds

Restricted funds
Balance at 7 April 2020 £ Recoupment fund 310,612 Ofce conversion project - 310,612	Income Increase in value of investmen Transfers Balance at 6 April 2021 £ £ £ £ - 74,236 60 385,450 22,500 - (22,500) - 22,500 74,236 (21,898) 385,450
		385,450

24 Related parties

The Clerk’s Mother is a resident of the Charity. The application for, and terms of, her appointment were undertaken on an arms-length basis in accordance with the Charity’s normal policies and procedures.

25 Capital commitments

Capital expenditure contracted for but not provided for in the financial statements amounts to £63,602. This is to be financed with internal cash funding together with a loan received from The Almshouse Association and a grant from Homes England.

• 40 -

PRIVATE AND CoNFirE￿ The Gowemorn The Ho8pltsl of St Jckn Ihe Evaroel and of St Anna tn Cahwn Illam Daty Houso STEPHENSON SMART O&kham LE156HY 36 Tynd￿1 Cpurt Commuct Road Lynchwood Peterbmu9h PE2 6LR (017331343275 Dato 2 Juty 2021 Dear Slrn REPORT TO IAAMAGEAIENT Tho purpw of kntr b l) to s￿1 knntb)n thè fnTh (Kr ofTr HDgplal of St John thg EvarvJ•llBt and of StAnne In Oktham. Th880 mattar8 cam8 trj I￿h1 thrltyJ th& cw88 of(w n￿M81 t6stB are danwl lo 08fj181 In f¢￿Ir￿j ouroplnlon cffl the fina￿ 8t8lem•rts. l)xte8t8nwy nol nwx1arl￿d1￿￿￿AII01r0rnoT Ingu￿11￿￿98Tr￿ slM)uld not be rollad upon to do 80. Hol￿. Ilwry Ir(ty￿arfty dd com8 to our duty our audlt tests. ￿ wrrtAd. Ofe￿￿, Inform yw We have r8vIv￿d our Indopendo￿e ONJ confimi thaL IwJg8menL Iho firm 18 iThJoporthnl wlthln th• m8nlrvJ ofwulatjry arKI prnlw￿OnaI trobJe¢lMtyofthB a￿l￿￿￿ag￿n￿ntp8rtn9r, Kefry Hllard, tho autht off18 In to th• Itthrtory 8u¢It, 2020r21. Smwt 8•r4ke8 to tho tharty. We do not Ihat ow Intynd￿ tythe ofth880 9￿. W• ho Impl8rMnt•d th8 lollovAThJ ard8 trj on8ur• that CAW IrKlep￿d8nc0 kn nol QYTVo￿.' Inforn￿ m8n￿￿ent (P8uI Mart•) ond Gllan mall1￿) to of•ll mado tLyotsr W8 wekome effocbkn comrrwl¢a(i¢J) a8 Part of wrKe8B. We bg grntoful for Ony fggdback or qU88tionB th8t you m8y havo In (￿n￿￿on vAth the Thls re￿1 ho9 been prgpgred for the ugp Thl the ofThe HoWtsI ofst &>hn tho EvAThJ8lst and of St Ann8 Sn Ohham arrfl must r#X b8 kn to third wti88 7Mthcxrt ow prk)r con8ert No rQ8FKThlbll￿ aro InAIty, Ilko axrwe88 ourth¥o k) 41 lMJ 88dstgd us kn caThylng Wto Your6 faithfvly STEPHENS1￿ SMART & CO ciirrEVED

SIGNIFICANT MATfERS RELEVANT TO OUR AUDIT FOR TrIE YEAR ENDED 6 APRIL 20ZI Audlt approach Thern V￿re no changes to our aud￿ apwrh as set out to you. Summary of •lgnifictt audtt )Indln SlgnmGant rlsk aroa Id•ntIl1￿ at pknnlng Flndlw• and rocommondatlons Rovonu• r•¢ognltlon- a signrficant rlsk kn Each i)C4)mé Stream wlthln fin8n(#al any wdrt wlkh ￿￿01 be rebLrtted. In(x)me IB Statemen18 was tested on an ana]yb'¢al reviv tested to ensure thal sy8t6m controls are b￿ng sK¢xw. We a889s$0d arKI tested the ￿ntrOl$ adhered to and that r8vewe is rworded over Mat￿al 80ur¢es of ￿CoMe and over cash correctly wilhin the finar￿al statements. arKI debtor5. Our autht dKI not hlghltht ary Managom•nt ov•rrld•- mandaW m•tlalj￿rTth tho y•ar oLYdures are cwrled out lo ensure that for reasonabler)868 8fKI tyread lo controls in place are T￿1 oventsjden ty 8upp)rtlng documentation whwe apworfflato. We mwwment. revltrAvJ osllmate8 within the financ481 statements Allocatlon of ¢harllabl• •xp•Tr￿- Expens68 tested for ccfrect all(Katlon to fevi•wJ to be alkKated correcty io th• re8tr1cted and endowment fvnd8, ba8ed upon rostrthd. endowment or unr88tr1c￿ fund8. the 8CtNIty fw whlth the lurKI ts Krtended •udllwJrk dkl Mt •ry ffl•twMI wrorn. oth•r k•y ar•u r•l•v•nl to th• ta￿lt Flndlng• ￿ r•comm•ndatlon• The uncertalntl88 surrounding the COVILk19 Tho finBncial Btatement8 wepared on p3ndgmiG have been conskjered a8 PBrt of ow gthg cormxm ba819 on the grounds that there ha8 overall going C<￿¢eM as8essmenL Indudlng been very l¢ttle ImpKt on tho fknanclals of the the Impact on tho Current and fu￿re operallons (wity W8 wll be rev18¥￿n9 ary managermnt of the entty. We we 88re that thwe h88 8¢(thnts that have been prepared wlor to thfr bggn mlnlmal Impact from the virus In the date that OLff report ￿ signed and wjll have •ntity's chwitable adNities arKI fina￿la18 and ffwther dwJ81ion wilh Management at th18 time, no governmenl 8upp h88 been requred. Th8 value of inv851ment portfollo has al r￿0Vered IhL8 year after the fall In Wa￿6 to 6 Awll 2020 whlch was at the very beglnnlng c the par#Jemt.

SIGNIFICANT MArrERS RELEVANT TO OUR AUDIT FOR THE YEAR ENDED 6 APRIL 2021 Int•mai contro The purpose of the 8udit V488 for us to expyess an oplnhjn on the IIna￿d 5tatem8nts. Th8 audlt included C￿nsIderation of intemal (￿ntrOl8 relevant to the Weparatlon of thefinanclal Statements In order to deslgn audii yocedwes thai are 8pwowate in th8 crcumstances, Lmjt r1￿ for the pur￿￿8 of expr8sslng an opinion on the effe¢liveness of internal contrd. Our audlt Is, thereforo. not d8slgned to identify all ￿ntr£4 V•takn688es. We havo testvj the systems of ¥rtemal ￿ntrol to th8 extont that V+ Intended lo place relian¢e on tlm in IcKm1￿ rjjr Jjdtt oplnion KI are pleased to report that overdl fourKI that were operating efforlwy. Accountlng Pollcl•B FRS 1 D2 requlre8 that entsU88 8tthld revhThv aLx¥Juntlry polkl86 regLdarly to 8n8ur8 that they am approwate lo h8 pthilar c1rcum8tsn￿$ for wvpo86s of giving a true and fair vlew. W8 havé reviv￿1 the charty's occountiTrJ Wicies and key judgen￿l area8 as stated in the fmaNal statement8 and confirni that wo judgo to be apwWe to pmlde rel￿•)[ rollabl6. comparablo and understandalAe infornth. Accountlng E•llm•t•• Key accountlng esllmates in fina￿181 8tatem8nts ￿nCeM htytsing wop8rty d8prnc18tion r8t88, tha level of bad and doubthjl debt pYo¥l￿on and Imp8knth provlsk)ns. We confirni that 881imate8 have be6n made appropriately in lints with our kno¥Aedge of the and dl$¢s8d $a116f8clorlly In the finandal statements. 8ufflm￿ al rAHIII dlff•r•nc•• and draft l•tt•r of r•pr•wrt Attachod 18 a 8ch•dulo of all of the adjusted arKI unadjusted mbstslements now durlw our work {ex¢apl th088 that wo trmal). Wo VK+uld ￿ ry8t8fv1 rf Y(￿ could review Ihe8e al￿ confimi that YDU are Satisfied that nong of the un•JIus￿ mlsstatements newj to be adiu8ted for in the financial statements. We have 8150 attKhod algtter (rf Mary￿nI reFY88errtatlon8 r￿tr8d In (¥>nne(alon wtth our 8LMlIt. We obtaln written repre8entalwJn from markigernerrt in acoxdanI￿ wllh ISA 580. Out•twdlng ml•r• Pricr to i88uing our audit rewi ￿ TMI requwe: Ihe 819ned letter of rew88￿￿", Antlclpat•d audlt rwt We antlclpate that ￿ ryl IS8￿ an urAualifd audit rewt for lh8 year, sUbJ￿t to th8 satlsfactc clearance of any outstand1￿Unr8so1VQd Ihe mattw8 ¢Xrtfined In this rep￿t.

OVERVIEW OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 20 Statwnont of Flnanclal Actlvftl 2tr21 2020 In¢omlng ome has remdnod con8iStent, h(Awior there h8$ be￿ a SI￿h1{Y hlgher value ofvoKIB bel￿n lets due to COVID-19 arNI the diffioJlti88 arising from that. The main redLth kn Income 18 due to dividends fr(Kn IrNestrnents. The value af Inv88tments has rec¢>vered at th8 end crfth8 year. hmvw due to covif&19 th1rwtr￿t ihe wknd, has b88n affected. R￿oUrc• (727,035) 1766303) Expwxllture ha• dK¥eawl by £39k (￿rnp¥¢d to Th8rn was a IoJ8 ￿ d￿￿)981 offfxed a88et8 lajt year from the result of cxynponent acc4)unllrvJ on Ih repl￿ment of roof8 8t Taylor House and Wllliam Dolby House. There have baen rK) simlar m•i(Y drJposals of 8ss8ts In ￿lTant year. Th8re 8180 in¢rea99d (x)8ts last year for the upgradtng of llooring at Sl AnDfr Clo80 al80 N•¢ 1.010.127 (443.628) w¥•dl••d at 6 WI 2021 ha￿ on galn•lllouM) the wh)le ral8tod lo the perf￿ManCe of F(rfollo on Inv••tm•nt• e8trn6nts A8 Cowd-19 pandgmlc hm th9 UK In Marth 2020, th8 value of 8tocks and Shares rodu￿d 8vn1fi￿ntIY du8 to th8 un(xJrtainty surn)urKling any ob81 finarK¥al ￿1818. dudng the current year th• of Inve81ments have re￿¥￿ed as the Kleml¢18 b￿rni￿ undw controi arKI there18 N•t mov•mwrt In 1,080,340 {U603) Tho ffi￿Tr vwlolkn In nat Mov￿￿1 In from fund• Igst yov ￿ due to tho mcxpase in value of 8harn8

OVERVIEW OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 20 Balanc• Shwl 2020 Tanglbl• Flx•d 6.444e61 4479,969 wopwty to fv amt to rx(x)figure the old offke Space at William Dolby HtsJ88 into a )lat rental. The work¥ are rtt>t complgtg al the year end and a capital Jmmitment has boen dl8do6ed for th& remalnder of Ihe work8. The remaining bdanc• of malnly for bol8. kltch8n8 and rw ￿alar lnV••tm￿ 4994434 4972,076 IrNutmorts have fe(%yM8d VMII durfng th8 flnanclal year after the significant fal In value at the ond of last yow due al the beginning of the COVID-19 (unrealE8ed wofit). Curr•nt Au•l• 460,322 328,287 8•Mts C¥XDwkn• dobbx8 and cmh. Du• to r•palr work at vari￿& Prope￿8$ boing delayed duo to th8 parKleml4 ca8h reserves have Incroa8ed £1(NJk Deblors have I￿8868d this year to Indude £22.5k from Homo8 Eng18nd grant reg8rdiry tho to re•re tho okl offtt4 8pace into a liaL (108h79) ff9,M2) CurrfAtt (¥eAkn hA¥• hicnaxd y•wdu• ID • Iwgo Involco for tho offlc reconfiwrAlth vL)rk• amounts falllng du• wlthln one year Cr•dltorn . {223,14n (212,938) tm Ilabllkn rdatè trj In pa ft amount• purctJ88e ofthe rmperti8s. During ts currgnt falllng du• yew. an addltlond losn of £25k Tm received from •ft•r moro than Alm81￿Se A880clatlon to a8818t ith finar￿r& of tho on• y•ar Fund• 11,567,791 10A87A51